Welfare economics shows how innovation and cost control are necessary to correct the negative externalities of production and consumption patterns to ensure a path of sustainable growth. When welfare economics describes the fundamentals of green growth, with innovation as a cornerstone for the...

Does better performance lead to more assets? We examine nearly 30,000 mutual funds to determine the effect that a funds outperformance relative to its peers has on the funds later asset size. We find that a fund that earns ten percent more than the size-weighted average of its peers in its style...