In this paper we deal with the global distribution of capital and output across time. We supply empirical support to model it as a partial differential equation, if the support of the distribution is related to an initial ranking of the economies. If we consider a distributional extension of the...

The question whether a socially mobile society is conducive to subjective well-being (SWB) has rarely been investigated. This paper fills this gap by analyzing the SWB effects of intergenerational earnings mobility and equality in education at the societal level. Using socio-demographic...

The question whether a socially mobile society is conducive to subjective well-being (SWB) has rarely been investigated. This paper fills this gap by analyzing the SWB effects of intergenerational earnings mobility and equality in educational attainment at the societal level. Using...

Demichelis and Polemarchalis (2007) highlighted the role played by the frequency of trade on the degree of indeterminacy of equilibrium in economies of overlapping generations. Assuming that time has a finite starting point and extends into the infinite future, they prove that the degree of...

We show that the problem of evaluating infinite sequences (or streams) of utilities by a unique utility (or social welfare function) can be stated in terms of fuzzy subsets of the set of infinite utility sequences. For each stream, its evaluation can be viewed as its degree of membership to the...

We analyze monopoly power in a market for a complementary fossil resource like oil in a two country/two period model with international trade in general equilibrium. Focusing on the complex interplay of capital and resource market, we elaborate how these effects feed back into the resource...

We consider an industry with firms that produce a final good emitting pollution to different degree as a side effect. Pollution is regulated by a tradable quota system where some quotas may have been allocated at the outset, i.e. before the quota market is opened. We study how volatility in...

The paper proposes two axioms that capture the idea of sustainable development and derives the welfare criterion that they imply. The axioms require that neither the present nor the future should play a dictatorial role. Theorem 1 shows there exist sustainable preferences, which satisfy these...

We ask whether prime-age adult mortality due to HIV/AIDS decreases the endowment of knowledge for agricultural production in Kagera, Tanzania, reducing total factor productivity. We also quantify how much this negative effect contributes to the decrease in long-term household agricultural income...

We explore intertemporal decision making to test the extent to which elicited discount rates and a self-reported scale of impatience measure the same behavioral characteristic. We conduct experiments in which we elicit discount rates using monetary rewards and a self-reported measure of...