In some economic games, participants systematically display behavior that departs from the model of payoff maximization, and this is usually attributed to social preferences. In this paper we focus on a new interactive context, a mixed-motive game called “Alternative Traveler’s Dilemma”...

We analyze the emergence of large-scale education systems by modeling the incentives that the economic elite could have (collectively) to accept taxation destined to finance the education of credit-constrained workers. Contrary to previous work, in our model this incentive does not arise from a...

This paper presents a two-agent economy, in which each agent has a consumption-dependent time preference. The optimal dynamic paths of accumulation will tend to one of many possible steady states, depending on the location of the initial capital level. One of the main results of this model...

This paper introduces a fuzzy forestry investment decision-making tool based. It will be applied to choose optimal levels of investment when three possible scenarios are conceived, a base case and two extreme alternatives: optimistic and pessimistic. Decision-makers can be seen as being either...