We study the implications of overconfidence for price setting in a monopolistic competition setup with incomplete information. Our price-setters overestimate their abilities to infer aggregate shocks from private signals. The fraction of uninformed firms is endogenous; firms can obtain...

The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...

Hydraulic fracturing has been a game changer for the energy field, bringing to mind the “nothing in excess” carving at Delphi. Whether heeding ancient oracles or cutting-edge principles of calibration, I argue that dynamic governance innovation can facilitate climate-energy-water balancing...

The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...

This paper is concerned with those actions of business firms which are aimed at managing the business and economic risks and uncertainties. The standard example of risk management is finance and insurance but these only capture a small fraction of the business risk faced by a company in a...

The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...

We study the implications of overconfidence for price setting in a monopolistic competition setup with incomplete information. Our price-setters overestimate their abilities to infer aggregate shocks from private signals. The fraction of uninformed firms is endogenous; firms can obtain...

The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...

This article analyzes how cooperative federalism and inclusive decision-making can provide legitimacy and transparency when balancing property rights versus police powers to regulate natural gas production

This Article considers the advantages and disadvantages of market-based program design, natural gas regulation, and enhanced international understanding. Transitioning to a green economy involves dedicating efforts towards environmentally sound energy innovation. RGGI, natural gas, and climate...