Posing a major challenge to economic orthodoxy, <i>Imperfect Knowledge Economics</i> asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of conventional economic models stem...

This paper brings together the debate on economic impacts of renewable energy (RE) deployment and the discussion on modelling endogenous technological change on the global markets for the different renewable power generation technologies. Economic impacts of RE deployment are still mostly...

Models have been extensively analysed in economic methodology, notably their degree of ability to provide explanations. This paper takes a complementary, comparative approach, examining theory development in the natural sciences. Examples show how diverse types of evidence combine with causal...

I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making...

Abstract We study models of the formation of citation networks in a setting where authors/firms care about their citations and are rational. The effect of these two features on the diffusion of useful ideas in a setting with complete information about past citations leads to multiplicity of...

The complexity of agri-environmental economic issues is such thata model that is fully consistent at all levels of aggregation and alltype of questions to be addressed is not available at the AgriculturalEconomics Research Institute in the Hague LEI. Such a model isprobably also not feasible. At...

This paper addresses the combination of environmental regulation and rural development using an integrated economic modelling approach. Specifically, the regional impacts of regulating livestock density at the farm level are analysed in a projected 2010 setting. This scenario is motivated by a...

Background: Health-care institutions have looked to business for models to respond to the requirement for reform. This has changed the perspective of institutions that were founded on charitable principles, and managed with liberal employment policies and deficit budgeting. Using lesions from...

This paper presents the updated macroprudential stress test for the euro area banking system, comprising around 100 of the largest euro area credit institutions across 19 countries. The approach involves modelling banks' reactions to changing economic conditions. It also examines the effects of...

The following appendices have been prepared by a team of subject-matter experts at theSchool of Public Policy at George Mason University (GMU) under a contract with thePostal Regulatory Commission (PRC).Section 702 of the Postal Enhancement and Accountability Act (PAEA) required thePostal...