I study the effect of fatigue and innate ability on performance in a model with incomplete contracts, lumpy tasks requiring multiple periods of work and stochastic productivity shocks. I find that increasing ability or reducing fatigue does not lead necessarily to more productive efficiency,...

We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural uncertainty and uncertainty from the anticipation...

This is Chapter 10 of Environmental Economics: An Integrated Approach and it provides an overview of the environmental valuations commonly used in environmental economics prior to detailed treatments in later chapters

This is the Preface to Environmental Economics: An Integrated Approach, and it provides a description of the approach taken throughout the book. The approach is to first understand how environmental policy would be conducted in a world of "perfect information," then move on to sources of...

This article frames environmentally sound innovation in the context of transnational network theory with the goal of setting forth a preliminary framework for international legal policy coherence. I consider how network dynamics can facilitate broad diffusion of environmentally sound...

Households’ and firms’ subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households’ and firms’...

We argue that perception, priming, and cognition research utilize the tools of stage magic in problematic ways, engaging in what we call "surprise-hacking." Surprise-hacking consists of the pre-experimental planning and staging of counterintuitive and negative results (such as blindness, bias,...

Seeing — perception and vision — is implicitly the fundamental building block of the literature on rationality and cognition. Herbert Simon and Daniel Kahneman's arguments against the omniscience of economic agents — and the concept of bounded rationality — depend critically on a...

The majority of research on the retirement decision has focused on the health and wealth aspects of retirement. Such research concludes that people in better health and those enjoying a higher socioeconomic status tend to work longer than their less healthy and less wealthy counterparts. While...