As the Epidemiological Transition progresses worldwide, chronic diseases account for the majority of deaths in developed countries and a rising proportion in developing countries indicating a new global pattern of mortality and health challenges into the future. Attainment of formal education is...

Farming and ranching communities in arid lands are vulnerable to the adverse impacts of climate change. We surveyed Nevada ranchers and farmers (n = 481) during 2009–2010 to assess climate change related knowledge, assumptions, and perceptions. The large majority of this group agreed that...

This paper considers the canonical stochastic growth model with CRRA utility and Cobb-Douglas technology. It obtains a closed-form solution for the case where capital's share is equal to the reciprocal of the intertemporal elasticity of substitution. This provides a useful benchmark that...

Roads, bridges, dams, sewers, wastewater treatment plants, and more make up what we collectively refer to as infrastructure. It is vital to the way we live, but it usually makes headlines only when something goes wrong with it. This issue of EconSouth examines infrastructure from local,...

This paper explores the implications of hyperbolic discounting for asset prices and rates of return. Hyperbolic discounting has no effect on the equity premium. However, by making people less patient, causes stock prices to be lower, and interest rates higher, than with exponential discounting....

This paper explores the implications of hyperbolic discounting for asset prices and rates of return. Hyperbolic discounting has no effect on the equity premium. However, by making people less patient, causes stock prices to be lower, and interest rates higher, than with exponential discounting....

Hyperbolic discounting is not observationally equivalent to exponential discounting. It is always possible to calibrate an exponential model so that it predicts the same level of consumption as a hyperbolic model. However, the two models have radically different comparative statics.