Econometricians generally take for granted that the error terms in the econometric models are generated by distributions having a finite variance. However, since the time of Pareto the existence of error distributions with infinite variance is known. Works of many econometricians, namely, Meyer...

There is now abundant scientific evidence that humanity is living unsustainably. The environment is gradually becoming more overstressed. People now are transforming ecosystems throughout the world at a faster and more extensive pace than any other time in human history. We are culturally given...