We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

The paper focuses on the ongoing debate on non-market valuation, including the valuation environmental goods, and the opportunity to use contingent valuation for policy guidance. In fact, contingent valuation critics argue that reported willingness to pay answers do not reflect real economic...

The Portuguese economy has been characterised by modernisation sincethe post-war period. Lisbon and the Tagus Valley is a centre of thisprocess. Hence, this region faces a high demand for highly skilledlabour. This paper analyses rates of return on human capital in theregion of Lisbon and in the...