This paper extends the neoclassical growth model with natural capital by introducing two new concepts: allocation of natural capital and materialization. We consider that anthropogenic environmental impact is correlated with the throughput of the economy (materialisation). Materialisation is the...

As this comprehensive Companion demonstrates, social economics is a dynamic and growing field that emphasizes the key role that values play in the economy and in economic life. Social economics treats the economy and economics as being embedded in the larger web of social and ethical...

This article compares the political and moral economies of Ludwig von Mises and Friedrich Hayek. It argues that some of the relatively less scrutinised intellectual divergences are located in their views on the roles of the state within a market society. Convergences will also be identified,...

Experimental economics is now part of mainstream economics and is fast becoming one of its most influential methods. Drawing on the distinction between market and behavioural experimentation, this article assesses the compatibility of the most influential experimental research with the...

The social engineering ambitions of economics have never been so high. Economists are increasingly invited to construct markets from scratch or to design mechanisms that mimic the market. Science students take these social engineering efforts as evidence for the capacity of economists to make...

Social dilemmas have become the focus of shared interest of economists and social psychologists. This essay surveys experimental studies in both disciplines related to those dilemma situations that somehow fit into the economist's category of public good provision problems. It focuses on their...

Two different indicators of "environmental responsibility" were independently proposed by Rodrigues et al. [Rodrigues, J., Domingos, T., Giljum, S., Schneider, F., 2006. Designing an indicator of environmental responsibility. Ecological Economics, 59 (3): 256-266.] and Lenzen et al. [Lenzen, M.,...

A strong mitigation effort is underway to reduce the levels of anthropogenic greenhouse gas emissions. An allocation of the mitigation effort among multiple agents requires understanding which agent is responsible for what emissions, according to a defined measure of carbon responsibility. The...