U.S. regions are expected to follow the national trend towards investment in renewable energy as part of their electricity portfolio. The progress of energy portfolios that typically involves traditional methods, such as centralized nuclear and coal-fired generation, and towards cleanerand renewable-source generation will impact economic growth and public health. Renewable electricity productio...

High economic performance in East Asia has motivated arguments on the sources of economic growth, including the role of the government to encourage more investment than would have been allocated by market forces. The purpose of this paper is to quantitatively investigate whether or not macroeconomic investment behavior of a growing economy can be explained by market forces. Focusing on Korea du...

The 1918-19 influenza epidemic killed at least 40 million people worldwide and 675,000 people in the United States, far exceeding the combat deaths tolls experienced in the U.S. in the two World Wars, Korea, and Vietnam combined. Besides its extraordinary virulence, the 1918-19 epidemic was also unique in that a disproportionate number of its victims were men and women age 15 to 44, giving the ...

Some economic models like the cash-in-advance model of money or overlapping generations model have the property that the dynamics are ill-defined going forward in time, but well-defined going backward in time. In such instances, what does it mean for an ill-defined dynamical system to be chaotic? Furthermore, under what conditions are such dynamical systems chaotic? In this paper, we provide a ...

An endogenous growth model is developed to explore the effect of work and income sharing (WIS) on economic growth and welfare in a developing rural economy. The practice of WIS is a mechanism which converts incremental diversity of risk into volatility reduction and overall welfare gain. However, the effect on economic growth is sector specific. WIS in the intermediate goods sector has a pro-gr...

In this paper we develop an economic growth model that includes anthropogenic climate change. We explicitly include a research sector that creates new technologies and simultaneously expands productivities of existing technologies. The environment is affected by R&D activities both negatively, through increase of output from productivity growth, as well as positively, as new technologies are le...

The size distribution of firms in each industry will usually be highly skew, and empirical evidence shows that it is approximated closely by the Pareto distribution. In this paper we make an attempt to explain why the Pareto law applies to the size distribution of firms based on their innovation and investment behavior, and then develop a model of economic growth that take into account this emp...

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent sh...

A mathematical model for the Dynamics of Economic Profit is constructed by proposing a characteristic differential oneform for this dynamics (analogous to the action in Hamiltonian dynamics). After processing this form with exterior calculus, a pair of characteristic differential equations is generated and solved for the rate of change of profit P as a function of revenue R (t) and cost C (t). ...

When playing games human decision behaviour is often found to be diverse. For instance, in repeated prisoner dilemma games humans exhibit broad distributions of cooperativity and on average do not optimize their mean payoff. Deviations from optimal behaviour have been attributed to auxiliary causes including randomness of decisions, mis-estimations of probabilities, accessory objectives, or emo...