This paper considers two characteristics of a public pension system: the contribution rate and the lenght of employment. A simple family of optimization models is set up, where the instantaneous utility is a Cobb-Douglas-function of consumption and leisure, futhermore, the life-time utility is a...

Tools for recreational resources management are topics of great theoretical and practical interest. The most commonly used tool undoubtedly is the licence or permit. The implementation of a system of licences to regulate the use of a natural resource is far from simple as it presupposes the...