In 1955, Herbert Simon introduced the notion of satisficing: an agent satisfices by searching for alternative that meets aspiration level but does not optimize. We survey more than 60 years advances in understanding satisficing economics, psychology, and management, identifying two research traditions address classes situations: under risk, is typically inferior to optimization strategies model...

Can be accept a variety of viewpoints on genetically modified organism, as well the products made using them. Therefore, trade regulation rule base is different when considering countries. It noted that in particular European Union member states formed fairly tight trading policies organism and products. The article deals with analysis use Union. object research – EU. aim EU’s legal their marke...

This paper computes optimal top marginal tax rates in Bewley-Huggett-Aiyagari–type economies that include entrepreneurs. Consistent with the data, entrepreneurs are overrepresented at of income distribution and thus disproportionately affected by an increase rate. The rate maximizes welfare is 60 percent. While average gains positive similar across occupations along transition, they larger for ...

We study fairness in economies where humans consume one private good and public representing the welfare of other species. show that a social evaluator cannot be egalitarian with respect to while always respecting humans’ unanimous preferences. One solution is preferences only when doing so does not lead decrease Social satisfying these properties reveal surprising connections between concerns ...

Many developing countries use food price subsidies or price controls to improve the nutrition of the poor. However, subsidizing goods on which households spend a high proportion of their budget can create large wealth effects. Consumers may then substitute towards foods with higher non-nutritional attributes like taste, but lower nutritional content per unit currency, weakening or perhaps even ...

Producer Protection Legislation and Termination Damages in the Presence of Contracting Frictions This study models producer protection legislation that would grant growers the right to claim damages (PPLD) if their contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning contracts to accommodate exogenous policy changes, PPLD would ...

This paper analyses the role barriers to trade in the form of high transaction costs have on market participation and supply response in rural food markets in developing countries. We present an empirical application on a sample of households in the Tanzanian region of Kagera. Exploiting the availability of a long term panel dataset to develop an error components switching regression model we c...

This paper surveys the status of food security in the South Asian countries, particularly India. Particular attention has been paid to small landholders (those households owning less than 2 hectares of land). Using NSS data from 1993–94 and 2004–05 the paper shows that small landholders are an increasing proportion of i) total rural households, ii) rural households who are poor, and iii) rural ...

In MENA, household food insecurity, which is closely related to poverty and undernourishment, is most severe in rural areas and concentrated within Iraq, Sudan, and Yemen. 25% of the MENA population may be poor and 7% undernourished. The key to increased national and household-level food security is pro-poor growth, driven by export-oriented, labor-intensive sectors. Agricultural sector policie...