This paper analyses the market transformations in heritage tourism destinations when excessivetourism demand determines the emergence of a class of excursionists among visitors. Building onthe approach of Keane (1997) and Shapiro (1983), our model highlights some importantdimensions of...

This paper studies the efficiency impacts of private toll roads in initially untolled networks. The analysis allows for capacity and toll choice by private operators, and endogenizes entry and therewith the degree of competition, distinguishing and allowing for both parallel and serial...

How do near-zero interest rates affect bank competition, risk taking and regulation? I study these questions in a tractable dynamic general equilibrium model, in which forward-looking banks compete imperfectly for deposit funding, and deposit insurance may induce excessive risk taking. The zero...

This paper develops a conception of personal identity for Amartya Sen's capability framework that emphasizes his self-scrutinizing aspect of the self and related concept of commitment, and compares this conception to the co1lective intentionality-based one advanced in Davis (2003c). The paper...

This paper reviews three distinct strategies in recent economics for using the concept of social identity in the explanation of individual behavior: Akerlof and Kranton’s neoclassical approach, Sen’s commitment approach, and Kirman et al.’s complexity approach. The primary focus is the...