We introduce the speculation elicitation task (SET) to measure speculative tendencies of individuals. The resulting SET-score allows us to investigate the role of individual speculative behavior on experimental asset market bubbles. The experimental results show that overpricing in asset markets...

This paper presents a model which takes into account two main factors that have been partially neglected by the economic development literature: the environmental externalities of human activities and agents' heterogeneity in terms of asset endowment and, consequently, in terms of income source...

We model in an endogenous growth set-up the hypotheses that the expansion of market activities weakens social capital formation, and that firms can invest in formal mechanisms of control and enforcement to substitute for social capital (trust, work ethics, honesty). The model shows that the...

We present a simple growth model which has two original features: the strategic context considered, which is an evolutionary game, and the growth mechanism described, in which growth is caused by negative externalities. The emphasis in this growth mechanism is evidently different from that...

We address the problem of optimal management of a self organizing ecosystem along ecological succession. A dynamic carrying capacity is interpreted as depicting the dynamics of habitat creation and occupation along ecological succession. The ecosystem may have three growth modes: pure...

The context of this paper is the measurement of welfare and weak sustainability, defined as non-declining utility, in dynamic economies, i.e., green, environmental or comprehensive accounting. We estimate the green net national product and genuine saving for Portugal 1991-2005, accounting for...

Strategic plans in the energy sector have the overall objective of the use of renewable energy, especially wind power, hydroelectricity, biomass intending a considerable increase in the share it has in total energy production. Thus, chase is moving towards an economy based on low carbon...

Because modern sophistication in the trade, transport, handling, blending and distribution system that makes the feed to reach farmers in the formula "just in time" protein sources are now in difficulty. The paper follows two main objectives: to understand farmers’ perception of safety and...