Shocks, rainfall variability, geographic capital, assets, welfare dynamics, poverty traps, migration, remittances, Thailand, Vietnam. - Schocks, Niederschlagsvariabilität, geographisches Kapital, Wohlfahrtsdynamik, Vermögenswert, Armutsfallen, Rücküberweisungen

This paper presents a characterization of a welfare index for the evaluation of primary goods (to be understood as those goods that all agents should enjoy equally). The welfare associated with a given distribution of n primary goods among m agents is measured as the sum of n real-valued...

In our modified version of the small open economy Ramsey model, we assume that agents have preferences over consumption and status which, in turn, is determined by relative wealth. This extension potentially eliminates the standard model's counterfactual result that an impatient country over...

We calculate the equilibrium fraction of cooperators in a population in which payoffs accrue from playing a single-shot prisoner's dilemma game. Individuals who are hardwired as cooperators or defectors are randomly matched into pairs, and cooperators are able to perfectly find out the type of a...

We develop a framework for analyzing national income accounting using a revealed welfare approach that is sufficiently general to cover, e.g., both the standard discounted utilitarian and maximin criteria as special cases. We show that the basic welfare properties of comprehensive national...