This paper explores intergenerational transmission of culture and the consequences of a plausible assumption: that people care not only for their children’s culture but also for how their grand-children are raised. This departs from the previous literature which, without exception, assumes...

What is a good reduced-form representation of Ramsey-Cass-Koopmans. (RCK) model? Solow’s model (despite non-optimizing agents) provides predictions largely consistent with a closed-economy RCK but fundamentally differs regarding open-economy income convergence. Where RCK predicts partial...

How much and when should we limit economic and social activity to ensure that the health-care system is not overwhelmed during an epidemic? We study a setting where ICU resources are constrained while suppression is costly (e.g., limiting economic interaction). Providing a fully analytical...

Climate change is predicted to substantially alter forest growth. Optimally, forest owners should take these future changes into account when making rotation decisions today. However, the fundamental uncertainty surrounding climate change makes predicting these shifts hard. Hence, this paper...

This paper explains the occurrence of hypocrisy – when the by-society most despised types pretend to be the most revered types. Real-world phenomena include pedophile priests, sex-offender feminists and seemingly very busy dispensable office workers. Building on the signaling framework of...

What actions should we expect countries to take when engaged in economic warfare? This paper first shows that the goal of winning a war implies a very simple and intuitive objective of economic warfare: maximize one’s own less the opponent’s (weight-adjusted) payoff. This objective function...

What actions should we expect countries to take when engaged in economic warfare? This paper first shows that the goal of winning a war implies a very simple and intuitive objective of economic warfare: maximize one's own less the opponent's (weight-adjusted) payoff. This objective function is...

This paper explores intergenerational transmission of culture and the consequences of a plausible assumption: that people care not only for their children’s culture but also for how their grand-children are raised. This departs from the previous literature which, without exception, assumes...

Climate change is predicted to substantially alter forest growth. Optimally, forest owners should take these future changes into account when making rotation decisions today. However, the fundamental uncertainty surrounding climate change makes predicting these shifts hard. Hence, this paper...

Natural-resource taxation and investment exhibit cycles in a vast number of countries, driving political turmoil and power shifts. Using a rational-expectations model, we show cycles result from governments’ inability to commit to future taxes and firms’ inability to credibly exit a country...