Contrary to the view that complex dynamical systems are curiosities at a safe distance from core tenets of economics, it is shown that they undermine a few fundamental constructs and models. The long run macroeconomic ...

This study extends previous recreational demand research by defining an annual portfolio of recreational trips as the elemental alternative. There are three distinct advantages to this approach. First, identifying an ...

This paper presents a simple application of the travel cost method conducted using geographical information system software. This permits analysis of the impact of various assumptions concerning the definition of visitor ...

The T-Bond futures contract has traded on the Chicago Board of Trade (CBOT) for approximately 20 years, and is now the most actively traded derivative product in the world. A voluminous amount of research has accordingly ...

Recently the pricing problem of a monopolist producing several different qualities of a product has received some attention in the literature. Mussa and Rosen (1978) studied the optimal product mix of a monopolist producing ...

This paper aims to explain from within mainstream theory why incorporating the rational expectations hypothesis in new classical macroeconomics leads to stable market equilibria, while other branches within the mainstream ...

In a corrupt tax administration a rise in tax rate sets about complicated strategic decision moves by both tax payers as also tax administrators. It is shown that in some circumstances, this may bring about a Laffer like ...

The present work addresses both issues in the context of income tax evasion. About the first it proves a rather strong result, namely that if rewards are related to the evasion detected by an auditor, then (i) no level of ...

Modern agricultural marketing systems are often highly complex structures with a range of inter-linking players operating within diverse trading environments. To compare the effectiveness of one agricultural marketing ...

Although the use of various of forms of marketing contracts is increasing within agricultural marketing channels, there has been only a limited number of research efforts which investigate the factors influencing the ...