This paper explores the econometric implications of learning behavior. In an illustrative model the government maximizes the discounted sum of tax revenues subject to the constraint imposed by a Laffer curve involving a parameter initially not perfectly known but about which Bayesian learning...

Few issues excite as much interest and concern in contemporary economics as those related to environment. Many long term environmental problems are intergenerational, in the sense that they affect primarily future generations, and derive from the use of modern agricultural technology or...