In this article, the U.S. and southern Canadian natural gas supply market is considered. An important model for oil and natural gas supply is the Hubbert curve. Not all regions of the world are producing oil or natural gas following a Hubbert curve, even when price and market conditions are...

This paper focuses on the question of whether or not a reduction of the knowledge barrier is good for welfare. Based on a dynamic monopoly setting with simultaneous investment decisions in process as well as in product Research & Development (R&D), we show that a reduction of the knowledge...

One approach to analyzing inequality is to compare average economic choices from a classical theoretical framework. Another approach considers the impact of the formation of society, through statutes and institutions, on average economic outcomes. This paper studies the effects of slavery on...

In today’s technology-driven world-economy, banking-services have been modernized where customers compete for comparative time-saving-options. Bangladesh, a developing country, is no exception. Besides traditional banking, Agent-banking, bKash, Western-Union etc. serve new-way...

In today’s technology-driven world-economy, banking-services have been modernized where customers compete for comparative time-saving-options. Bangladesh, a developing country, is no exception. Besides traditional banking, Agent-banking, bKash, Western-Union etc. serve new-way...

November 1998 - Revised March 2000 <p> The concept of path dependence refers to a property of contingent, non-reversible dynamical processes, including a wide array of biological and social processes that can properly be described as "evolutionary." To dispell existing confusions in the literature,...</p>

We show that oil production from existing wells in Texas does not respond to price incentives. Drilling activity and costs, however, do respond strongly to prices. To explain these facts, we reformulate Hotelling's (1931) classic model of exhaustible resource extraction as a drilling problem:...

Oil-accumulating microalgae have the potential to enable large-scale biodiesel production without competing for arable land or biodiverse natural landscapes. High lipid productivity of dominant, fast-growing algae is a major prerequisite for commercial production of microalgal oil-derived...