Purpose – The development of standardized fixed-income securities and organized secondary markets in which to price and trade the securities is a widely recognized factor in the emergence of modern developed economies. However, the ongoing global financial crisis has exposed the existence of a...

Expansion of human populations and activities has caused increased conflicts between wildlife and humans. As a result, the distinction between resource and pest species has become blurry. We propose an economically-based classification of species based on a multi-use bioeconomic model. The...

The general distinctions between open access, state property, common property and private property are now well established in the academic literature. When applied to African rangelands, however, common property admits a wide variety of resource management regimes. To formulate effective...

Research on financial constraints of very small firms is scarce because it is difficult to observe and measure their transactions. Previous studies on small enterprises in post-communist countries have focused either on the effect of financing constraints on business growth (Budina et al., 2000,...

This paper outlines and critically evaluates a property rights driven model devised by Lein, Moore and Reja (1997) to guide the economic organization of urban public transport in a regime of full privatization and deregulation. Some extensions to the model are also provided to address some...

This essay examines the published views of vital economists regarding postal reform. I define a vital economist as one who has produced scholarly research on this issue, and who has expressed an opinion about the direction reform should take. The ten vital economists surveyed here express...

A teacher’s words reflect the theory and methods he uses. Words reveal theoretical structures, the problems identified as relevant, and how those problems should be analyzed. I investigate whether entrepreneurship-rich and institutions-rich theories are represented in Ph.D. programs in...