One of the problems associated with the conservation of the environment is that short-lived individuals fail to account for the long-term effects of pollution, which implies that future generations bear the costs imposed by the current generation. Such inter-generational externalities are...

We study how human preferences affect the resilience of economies that depend on more than one type of natural resources. In particular, we analyze whether the degree of substitutability of natural resources in consumer needs may give rise to multiple steady states and path dependence even when...

Circular economy (CE) is a new trend in balanced development, directed at limiting consumption of resources and minimising waste production. In consideration of the European Commission’s (EC) postulates of the CE implementation, the article aims at verifying whether coal power plants in...