The model is motivated by data showing that the Australian production of local manufactures is hurt by depreciations and invigorated by appreciations. The paper briefly presents such evidence and then proceeds to a theoretical analysis. The model aims at capturing short-to-medium run exchange...

Divide the decisionmaker's future into: (i) a pre-outcome period (lasting from the decision until the outcome of that decision is known), and (ii) a sequel post-outcome period (beginning when the outcome becomes known). Anticipated emotions in both periods may influence the decision, in...

Expected utility theory does not directly deal with the utility of chance. It has been suggested in the literature (Samuelson 1952, Markowitz 1959) that this can be remedied by an approach which explicitly models the emotional consequences which give rise to the utility of chance. We refer to...

Opinion is divided on whether it is better to have a single world   money or variable exchange rates.  Pope, Selten and von Hagen (2003)   propose that fresh light would be shed via an analysis that allows   for seven complexity impacts on the exchange rate that are   underplayed...

The paper traces the dangers in the closed economy perspective of a   monetary policy focused on a domestic inflation goal under a clean   float.  Field evidence of the damage wrought from this perspective is   reinforced by that from a laboratory experiment.  The laboratory  ...

The paper re-expresses and complements arguments against the normative validity of expected utility theory in Robin Pope (1983, 1991a, 1991b, 1985, 1995, 2000, 2001, 2005,2006, 2007). The objections concern the neglect of the evolving stages of knowledge ahead (stages of what the future will...

Pro-life advocates focus on a single entity, the foetus. Pro-choice advocates focus on another single entity, the pregnant mother. There should also be a third focus, on all people already born – on how a new entrant on average damages (or enhances) the whole community. Communal accounts are...

In rich countries, the population percentage under drug therapy for depressions is rising rapidly decade by decade for children, adolescent and young adults with no evidence of any long term success for this chronic ailment. There is also in rich countries relative to most poor ones, for each...