Economic neoliberalism promises social efficiency with self-interested participants and free competition. This doctrine is challenged by the extensive production of wasteful goods and services in the contemporary West. By studying three types of wasteful production-conspicuous goods, conspicuous...

We relax two common assumptions in the Hotelling model with third-degree price discrimination: inelastic demand and exogenously assumed price discrimination. Based on the constant elasticity of substitution (CES) representative consumer model, we allow firms to endogenously choose whether to...

This paper uses per capita data for 132 countries over 1960–2010 to estimate elasticities of sectoral energy use with respect to national gross domestic product (GDP). We estimate models in both levels and growth rates and use our estimates to sectorally decompose the aggregate energy-GDP...