This paper builds upon Cunha's (2015) subjective rationality model in which parents have a subjective belief about the impact of their investment on the early skill formation of their children. We propose that this subjective belief is determined in part by locus of control (LOC), i.e., the...

This paper uses bio-economic modeling and simulation to investigate the de-mise of the sperm whale industry in the mid-19th century. Petroleum is widely credited both contemporaneously and today with 'saving the whales.' We investigate the transition in illumination technologies from whale oil...

The objectives pursued by governments managing fisheries may include maximizing profits, minimizing the impact on the marine ecosystem, or securing employment, which all require adjusting the composition of the fishing fleet. We develop a management plan that can be adapted to those objectives...

This paper studies the interaction between two dynamic domains, (1) an evolutionary biological system ('the environment') whose behaviour determines the availability of a resource stock, and (2) an industry where access to the resource stock is determined by the outcome of a patent race. The...