Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless of the inputs’ scarcity. In the last few decades it has become clear that in many cases inputs are depletable quantities and at the same time a lot of constraints are imposed...

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...

Exploitation of non–renewable resources is an intensively studied field of environmental economics in the last century. Since the influential Hotelling’s paper a huge progress is made in the depletable resources literature. Although a variety of methodologies is used in that problem’s...

It is reasonable to consider the stock of any renewable resource as a capital stock and treat the exploitation of that resource in much the same way as one would treat accumulation of a capital stock. This has been done to some extent in earlier papers containing a discussion of this point of...

This study illustrates how the recent developments in efficiency analysis and statistical inference can be applied when evaluating banks’ performance issues from a potential merger. By using a sample of 29 Greek commercial banks the paper provides a six step procedure in order to evaluate...

In this paper we propose a leader – follower dynamic model of taxation with the government imposing a tax to internalize externalities caused by polluting firms. As expected the Stackelberg games with the government acting as leader yield time inconsistent outcomes. We first show how time...

The question of why some multinational corporations perform better than others is in the centre of the analysis of many international business disciplines and the subject of a never-ending debate. In that respect this paper provides empirical evidence by combining strategic management theories...

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless the inputs’ scarcity. In the last few decades has been clear that both the inputs are depletable quantities and a lot of constraints are imposed in their usage in order to...

Dynamic modeling is general and recently the most interesting perspective to solve a dynamic economic problem based on Pontryagin’s maximum principle. Moreover traditional economic theory, up to the middle of twentieth century, builds up the production functions regardless the inputs’...

This paper contributes to the link between social and cultural factors with countries innovation performance. By measuring 25 countries’ innovation efficiency with the use of conditional and unconditional DEA (Data Envelopment Analysis) frontiers the paper provides empirical evidence of the...