Option valuation models are usually based on frictionless markets. This paper extends and complements the literature by developing a model of option pricing in which the derivative and/or the underlying asset have an oligopolistic market structure, which produces an expected return on these...

The role of whistle-blowing as a mechanism for deterring corruption has been conspicuously neglected in the economic literature. This is quite surprising given the increase in legislation aimed at preventing corruption that includes whistle-blowing clauses and the extensive literature on...

This paper analyzes the relationship between rural poverty and forest land management in the context of charcoal production under slash and burn. An optimal control model determines how a representative household makes decisions on the allocation of forest areas to work and use them to affect...

A neglected aspect of ecological economics is the link to the social context. The socio-economic perspective extends standard economic analysis into concerns for distribution, ethics and the power of institutions which form and implement policy. We explore how an institutional perspective on...

The main aim of this article is to investigate the behavioral consequences of the provision of subject-specific information in the group effort levels chosen by players in an experimental CPR game. We examine two basic treatments, one with incomplete information and the other with complete...

This essay provides an approach to the analysis of the link between Thorstein Veblen's evolutionary approach and evolutionary game theory (EGT). We shed some light on the potential contribution of Veblen's theory of socioeconomic evolution to the discussion on the application of EGT to social...

In several countries governments fund childcare provision, but in many others it is privately funded as labour regulation mandates that firms have to provide childcare services. For this latter case, there is no empirical evidence on the effects generated by the financial burden of childcare...