Strong growth in disposable income has inflated consumption to unprecedented, but not sustainable levels. In this process consumer behavior has been changing. To explain the driving forces of this development, the paper introduces a theory of evolving consumer preferences that is molded in an...

Abstract: The existence of externalities in fact makes it impossible to measure social costs and social well-being by market means. The solution of many urban problems demands an integrated approach. Urban economy is crucial domain where externalities disrupt efficiency and make it difficult...

The Formula One Championship (F1) is one of the biggest sports businesses in the world. But, however, it seems to astonish that only very few scholarly articles analyze the F1 business. The aim of this study is to contribute to closing two gaps in the existing literature: it contributes (1) to...

The traditional explanation of growth based on the primum and secundum movens of accumulation and technical progress, faces two major empirical anomalies. Why do people work so much i.e. why do they strive so much for money? The growth literature provides no answer to these question, nor to the...

This chapter studies the interface in poor countries of population growth, rural poverty, and deterioration of the local natural-resource base, a subject that has been much neglected by modern demographers and development economists. The motivations for procreation in rural communities of the...

Many asset pricing models consider ‘disagreement’ (heterogeneous expectations), while a variety of other asset pricing models focus on ‘tastes’ (preferences beyond risk aversion); yet relatively few asset pricing models simultaneously consider both. The Popularity Asset Pricing Model...

Tourism is one of the most important growth leading sectors in the world's economy. However, economies endowed with beautiful natural sites do always face a trade-off in the management of these resources. The problem is then to find an equilibrium point between utilisation and conservation of...