This paper investigates the path of genuine saving (GS) based on the perspectives of average, trend and stability. The theoretical basis of GS can be seen in several studies, such as Arrow et al. (2003) and Dasgupta (2004); its database has been developed by the World Bank. With these...

This paper investigates institutional factors affecting the performance of genuine savings (GS), which is often used in assessing sustainable development, adopting a model of autoregressive conditional heteroscedasticity in mean. We pay particular attention to the contribution of institutions to...

In this paper, we consider how genuine savings would be altered if the adjustment costs of capitals are taken into account in the stylized capitalresource model. It is shown that, in order to derive the modified genuine savings, through shadow prices, the original genuine savings have to be...

We examine how physical abilities affect individuals' preferences. In particular, by incorporating social comparison into prospect theory, we directly estimate the degree of loss aversion from social comparison, a concept we term `ALJ' (\textit{Avoiding Loss relative to the Joneses}). Our main...

We examine the relationship between competitive behavior and social comparison where in this paper competitive behavior is measured by physical ability performance. In particular, by incorporating social comparison into prospect theory, we directly estimate the degree of loss aversion with...

We examine the relationship between competitive behavior and social comparison where in this paper competitive behavior is measured by physical ability performance. In particular, by incorporating social comparison into prospect theory, we directly estimate the degree of loss aversion with...

Various indicators have been developed to assess the sustainability of countries. However, whether it is possible to include institutions as an element of the sustainability index remains theoretically and practically unclear. One of the main challenges is the substantial missing data problem....

This paper investigates the effect of shadow price regarding weak sustainability indicators based on the genuine savings indicator. We analyse the forest resources considering positive externalities of natural capital, as the approximation from market rent alone would under-estimate the true...

This paper empirically estimates the money demand function in Cambodia. We adopt the money demand model that includes exchange rate. For the analysis, Autoregressive Distributed Lag (ARDL) approach to cointegration is employed. Our results indicate that there is cointegration among variables in...

This paper attempts to estimate the environmental Kuznets curve (EKC) in the case of France by taking the role of nuclear energy in electricity production into account. We adopt the autoregressive distributed lag (ARDL) approach to cointegration as the estimation method. Additionally, we examine...