This paper examines the role of heterogeneous beliefs in a cobweb model. We proceed in two stages. First, two groups of agents are distinguished. They are either fundamentalists, or chartists. The latter specify the expected price from an adaptive process, the former have a "rational behaviour"....

This paper explores the factors that affect students’ evaluations of economics instructions using a sample of over 2400 completed questionnaires at a large Australian university. Ordered probit analysis is used to determine the changes in the predicted probability of teaching evaluation...

Conservation of biodiversity is a complex issue. Apart from the creation of nature reserves, there is a plethora of other factors that are part of this complex web. One such factor is the public knowledge of species. Since public funding is imperative for the conservation of species and creation...

This paper examines impacts, both positive and negative, of globalisation on the selection of a limited gene pool in livestock and agricultural production. This concentration has increased yields at high rates. It is associated with modern forms of production that are an integral part of a...

We investigate the dynamics of a cobweb model with heterogeneous beliefs, generalizing the example of Brock and Hommes (1997). We examine situations where the agents form expectations by using either rational expectations, or a type of adaptive expectations with limited memory defined from the...

This chapter presents the economic logic behind the concept of discounting the future and discusses how it applies to biodiversity conservation. How should economists account for the effects of biodiversity and ecosystem losses in the immediate and distant future? We discuss how to integrate...