In the 1970s, the herring stocks in the Northeast Atlantic were nearly fished to extinction. This collapse is usually attributed to technological advances. We investigate the impact of technological shocks on herring stocks and the sensitivity of catch to stock size and technological shocks. We...

In many cases governments invite interest groups to use collaborative bargaining to resolve environmental conflicts. If the parties fail to reach agreement, the government threatens to impose a backstop policy. Bargaining models have predicted that any agreements will be influenced, variously,...

We explore the link between affluence and well-being using a simple general equilibrium model with a pure Veblen good. Individuals derive utility from the pure Veblen good based solely on how much they consume relative to others. In equilibrium, consumption of the pure Veblen good is the same...

In this paper, we build on Ryan and Wales (1998), Moschini (1999), and Serletis and Shahmoradi (2007) and impose curvature conditions locally on the quadratic Almost Ideal Demand System (AIDS) model of Banks et al. (1997), an extension of the simple AIDS model of Deaton and Muellbauer (1980)...

This paper argues the compositional shift from agricultural to industrial production - industrialization - is a central determinant of changes in environmental quality as economies develop. A simple two-sector model of neoclassical growth and the environment in a small open economy is developed...