The management of revenues from exhaustible natural resources involves a number of challenges. In this paper, we argue that the standard policy advice to managers of resource revenues has been dominated by short-termism and the lack of a perspective on economic development and structural...

This paper presents a model of endogenous growth in the presence of habit formation in consumption. We argue that in addition to the traditional disutility effects of habitual consumption, the past history of consumption represents a past record of transactions as well. As a result, the...

This article uses the multinomial modeling technique (Batchelder 1998) to decompose the brand-switching matrix of the RLZ model and produces conditional probabilities for alternative decision outcomes (Rust, Lemon, and Zeithaml 2004; Rust, Lemon, and Narayandas 2005). It then links the probabilities...