Chemical organization theory has been suggested as a new approach to analyze complex reaction networks. Concerning the long-term behavior of the network dynamics we will study its foundations mathematically. Therefore we consider a chemical reactor containing molecules of different species...

Developing the "right" new products is critical to firm success and is often cited as a key competitive dimension. This paper explores new product development (NPD) portfolio strategy and the balance between incremental and radical innovation. We characterize innovative effort through a...

Recent theoretical advances in consumption theory suggest that there may exist predictable consumption surges which, if not taken sufficiently into account in forecasting, may lead to predictable forecast errors. We use this insight to identify economic variables that might help improve the...

Macroeconomics must take radical uncertainty into account, if it aims at contributing to the solution of serious real-world problems such as climate change. Allowing for radical uncertainty must happen at two levels: the level of modeling and the level of the scientifi c discipline. I argue that...

Up to the financial slump of the second quarter of 2008 commodity prices grew fast for several consecutive years in a highly volatile context. Recent commodity fluctuations have raised both policy concerns and a prolific academic debate. This paper offers a coherent theoretical and empirical...

In this paper we analyse tourism sustainability from a modelling point of view. The minimal model we propose is composed of three non-linear ordinary differential equations describing the dynamics of tourists, environment and services. Many of the parameters involved are concerned with the...

We introduce time-varying systemic risk (à la He and Krishnamurthy, 2014) in an otherwise standard New-Keynesian model to study whether simple leaning-against-the-wind interest rate rules can reduce systemic risk and improve welfare. We find that while financial sector leverage contains...