This paper develops a general model of common resource extraction where we introduce payments for environmental services to encourage resource users to give up extraction. The goal is to reach a balance between resource use and conservation. As the essence of conservation is dynamic, we use a...

We examine the way in which differences in language and culture may affect direct investment decisions. We use a discrete choice approach to model the location decisions of multinationals in which cultural links, language differences, distance and market access are accounted for. This model is...

This paper analyzes to what extent the entitlement of property rights affects cropping decisions when these decisions generate negative externalities. To that end, we implement an experimental study where agents make cropping decisions in two different treatments: private and common land. The...

The indirect evolutionary approach integrates forward-looking evaluation of opportunities and adaptation in the light of the past. Subjective motivation determines behavior, but long-run evolutionary success of motivational types depends on objective factors only, what can justify intrinsic...

Global warming can modify the intensity and the seasonal distribution of rainfall, modifying the frequency of flooding events. Flood risk is usually determined as a combination of the probability of flooding and the consequential damage. The present analysis considers the potential effect that...