Chaos theory reveals structure in aperiodic, dynamic systems. The number of nonlinear business cycle models use chaos theory to explain complex motion of the economy. The basic aim of this paper is to provide a relatively simple chaotic economic growth model that is capable of generating stable...

We develop an endogenous growth model with three goods, exportable, importable and non-tradable. We study the response of the real exchange rate and of the economy growth rate to a decrease in the tariff rate. We show that trade liberalization must be followed by a depreciation of the real...

This paper quantifies the welfare cost of consumption externalities in an endogenous growth model with habit formation. Agent’s utility depends on both current consumption and a reference consumption level determined by economy-wide average past consumption. Although utility may be lower in...

We introduce social capital accumulation into a neoclassical model, showing how it differs from physical and human capital accumulation. We take the view that social capital is crucial to the enjoyment of socially provided goods and that it is mainly accumulated by means of participation to...

This paper analyses recycling of waste and downgrading of secondary resources using a classical type of production model represented by a Sraffian model. Residuals emitted as waste by households and secondary resources obtained by recycling of waste are negatively or positively priced, depending...

This paper extends the work of Chen and Chang (2010) and attempts to present a model for the optimal investment threshold and the real option value under price uncertainty from a different aspect of entry probability. I measure a financing policy by the debt ratio, a weight for the proportion of...

This paper incorporates risk-based margin requirements into portfolio liquidation procedures in a novel fashion. The approach is analytic and, as a result, more efficient than conventional numerical liquidation methods. The margin requirement calculation is a self-contained inner optimization...

In this paper, a fuzzy multiobjective mathematical programming model for operational transport planning in a supply chain is presented. The objectives of the proposed model are the minimization of the number of used trucks and the total inventory level, by considering vehicle capacities as a...

This paper presents a critical analysis of some of the techniques which are applied in practice to obtain composite indicators from a previous sub-indicator system. In studying each methodology, we identify the advantages and disadvantages associated with them, paying particular attention to...

This paper analyzes the importance of having a network of stations adapted to vehicles carrying dangerous goods. In the r̄st place, it is studied the current demand which is offered by the existing parking areas, and in the second place, it is explained a maximum coverage location model in...