We present a dynamic model of economic behavior of an owner-operated firm under bounded rationality, and develop the implications for the assessment of economic efficiency and the understanding of entrepreneurship. Under bounded rationality, information about technology and market conditions is...

Advances in the genetic modification of agricultural seeds have allowed a range of new opportunities for manipulating seed traits according to production, market and environmental concerns. As seed varieties continue to become increasingly differentiated, preferences for specific seed traits may...

The Red de Proteccion Social (RPS) in Nicaragua is one of a growing number of conditional cash transfer programs that pay households cash stipends in exchange for school attendance and regular visits to health clinics. A key feature of these programs is that the cash is given to the woman head...