We study the implications of the interaction between human capital and knowledge spillovers for one kind of semi-endogenous economic growth in a region. We focus on two cases. In the first (second) case, there is no growth (growth) in the stock of human capital but knowledge spillovers are...

We study the provision of information to tourists in a probabilistic setting. Specifically, we provide answers to three hitherto unstudied questions in the tourism literature. We first delineate a continuous-time Markov chain (CTMC) model of a tourist information center (TIC) and then we compute...

We analyze a two-period signaling model in which a representative entrepreneur in a regional economy has a project that generates a random cash flow and that requires investment that the entrepreneur raises from a competitive market. The project’s type is known to the entrepreneur but not to...

We study the strategic interaction between a new good producer and a remanufacturer who use advertising campaigns to compete for a dominant share of the market for a certain good. Each firm chooses one of three possible strategies for running its advertising campaign. The two rival firms care...

In this exploratory paper, we first make a case for considering the scarcity value of ecosystem services in analyses of jointly determined ecological-economic systems. Next, we point out that insight into the scarcity value of an ecosystem service can be gained generally by examining the manner...

For rangelands managed with spatial and temporal controls, [a] the long run expected net cost of management operations, [b] the long run rate at which grazing is moved from one paddock to another, and [c] the long run rate at which grazing has to be moved from one paddock to another because of...

Recently, Batabyal (1999) has shown that when the decision to get married in an arranged marriage is analyzed in an intertemporal and stochastic setting, it is possible that a marrying agent will never get married. This result arises because the marrying agent in Batabyal (1999) maximizes the...

Although arranged and love marriages have been around for a long time, to the best of our knowledge, there are no comparative analyses in the economics literature of the relative merits of one or the other kind of marriage. As such, the purpose of this note is to conduct a theoretical inquiry...

We examine two issues pertaining to the conduct of environmental policy in developing countries (DCs). First, when faced with a self-financing constraint, should an environmental authority (EA) raise/lower pollution taxes over time or should it run a deficit/surplus? Second, given recent...