We develop the rectangular choice-of-technology model with factor constraints, or RCOT, for analysis of the economy of a single region, or of multiple regions in the context of a model of the world economy. RCOT allows for one or more sectors to operate more than one technology simultaneously,...

NSF’s “Dear Colleague Letter” reflects the widely perceived need to go beyond current economic theory in the formulation of public policy. At the same time, there is a profound lack of unity among the disciplines that comprise the behavioral, social, and economic sciences. This white paper...

Human cultural adaptability helped our species get through several extreme environmental crises during the 200,000 year history of Homo sapiens. Richerson, Boyd and Henrich (2010) argue that this adaptability is a product of gene-culture coevolution. Much has been written about cultural...

This chapter presents the economic logic behind the concept of discounting the future and discusses how it applies to biodiversity conservation. How should economists account for the effects of biodiversity and ecosystem losses in the immediate and distant future? We discuss how to integrate...

We develop the rectangular choice-of-technology model with factor constraints, or RCOT, a linear programming input-output model for analysis of the economy of a single region. It allows for one or more sectors to operate more than one technology simultaneously, with the relatively lowest-cost...

In spite of the increasing scientific certainty that the earth's climate is warming and that human activity is partially responsible, public willingness to take steps to reduce greenhouse gas emissions seems to be decreasing. How can the scientific consensus as to the urgency of the climate...

Many ecological and environmental economists take a microeconomic approach to environmental valuation and view the macroeconomy as one big firm whose primary task is to efficiently allocate scarce resources. In this framework, replacing freely provided ecosystem services with costly...

The recent human impact on the environment is so unique in the geological record that the official geological body that defines the division of geological time, the International Commission on Stratigraphy, is considering designating a new geographical epoch called the Anthropocene, calling...

This paper reviews quantitative and qualitative evidence on the impact of IT on economic performance in developed and developing countries. Two strands of this literature are considered: the IT-productivity connection and the effects of IT on labor composition and the work environment. Policy...

The shadow return on capital in 75 small municipal water systems is estimated using a gamma frontier variable cost function. The estimated Social Cost of capital exceeds the shadow return by an average ratio of 4.37:1, with a median capital stock inefficiency of $70, 500 per year per system...