nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2018‒01‒15
twenty-two papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Sraffa and the revenue of the owner of non- renewable natural resources: notes on a never- ending debate By Yoann Verger
  2. The Recurrence of Long Cycles: Theories, Stylized Facts and Figures By Lefteris Tsoulfidis; Aris Papageorgiou
  3. Confronting the wall of patriarchy : does participatory intrahousehold decision-making empower women in agricultural households? By Lecoutere, Els; Wuyts, Eva
  4. Innovation, Finance, and Economic Growth : an agent based approach By Giorgio Ffagiolo; Daniele Giachini; Andrea Roventini
  5. Rational Heuristics ? Expectations and behaviours in evolving economies with heterogeneous interacting agents. By Giovanni Dosi; Mauro Napoletano; Andrea Roventini; Joseph Stiglitz; Tania Treibich
  6. Combating domestic violence against women in Turkey. The role of women's economic empowerment By Aurélien Dasre; Angela Greulich; Inan Ceren
  7. Is women empowerment a zero Sum game? Unintended Consequences of microfinance for Women’s empowerment in Ghana By Salia, Samuel; Hussain, Javed; Tingbani, Ishmael; Kolade, Oluwaseun
  8. Bofinger and Ries versus Borio and Disyatat: macroeconomics after endogenous money. A brief note By Sergio Cesaratto
  9. Capacitación empresarial y trabajo voluntario en el Perú: La identificación de buenas prácticas By Ronald Granthon Uriarte
  10. SABCEMM-A Simulation Framework for Agent-Based Computational Economic Market Models By Torsten Trimborn; Philipp Otte; Simon Cramer; Max Beikirch; Emma Pabich; Martin Frank
  11. Working conditions of indigenous women and men in Central Africa an analysis based in available evidence By Thornberry, Francesca.
  12. Complexity Theory, Game Theory, and Economics By Tim Roughgarden
  13. Economic Complexity Unfolded: Interpretable Model for the Productive Structure of Economies By Zoran Utkovski; Melanie F. Pradier; Viktor Stojkoski; Fernando Perez-Cruz; Ljupco Kocarev
  14. Asymmetric return rates and wealth distribution influenced by the introduction of technical analysis into a behavioral agent based model By F. M. Stefan; A. P. F. Atman
  15. La demande de travail de la théorie générale de la firme : évidences empiriques By Adama Zerbo
  16. The endogeneity of money and the securitizing system. Beyond shadow banking By Caverzasi, Eugenio; Botta, Alberto; Capelli, Clara
  17. Políticas públicas sectoriales para el cambio climático en América Latina: una aproximación By Caballero, Karina
  18. Pratiques managériales frauduleuses en Algérie : diversité, ampleur et perceptions des acteurs By Foued Cheriet
  19. Inequality and Imbalances : a Monetary Union Agent-Based Model By Alberto Cardaci; Francesco Saraceno
  20. De l’aide à la justice alimentaire : étude d’un partenariat entre Biocoop et des épiceries sociales et solidaires By Alexandrine Lapoutte; Clara Lohier-Fanchini; Séverine Saleilles
  21. La modélisation économique peut-elle aider à préserver la biodiversité ? By Jean-Michel Salles
  22. Building bridges for the adoption of deep green agri-environment measures: The emergence of environmental knowledge brokers By Paolo Melindi-Ghidi; Tom Dedeurwaerdere; Giorgio Fabbri

  1. By: Yoann Verger (ECOSYS - Ecologie fonctionnelle et écotoxicologie des agroécosystèmes - AgroParisTech - INRA - Institut National de la Recherche Agronomique)
    Abstract: A rich literature exists about the way to handle non-renewable natural resources in the context of classical theory. This article sums up the different approaches that we could consider when we calculate the revenue of the owner of a non-renewable natural resource in a Sraffian framework. It clarifies the concepts of differential rent, depreciation of wasting assets, Hotelling rent, and rent as a share of the product, and links this last concept with some empirical facts about non-renewable natural resource extraction industries.
    Abstract: Une riche littérature existe concernant la façon de considérer les ressources naturelles non-renouvelables dans la théorie classique. Cet article résume les différentes approaches que nous pouvons considérer lorsque l'on calcule le revenu d'un propriétaire d'une ressource naturelle non-renouvelable dans un système Sraffien. Il clarifie les concepts de rente différentielle, dépréciation d'un actif décroissant, rente d'Hotelling, et rente comme partage du produit, et lie ce dernier concept avec quelques faits empiriques concernant les industries extrayant les ressources naturelles non-renouvelables.
    Keywords: non-renewable natural resource, rent, extractive industry,Sraffa, Hotelling,ressourcenaturelle non-renouvelable,rente,industrie extractive
    Date: 2017–09–27
  2. By: Lefteris Tsoulfidis (Department of Economics, University of Macedonia); Aris Papageorgiou (Department of Economics, University of Macedonia)
    Abstract: Basic innovations and their diffusion, the expansion or contraction of the level of economic activity and the volume of international trade, rising sovereign debts and their defaults, conflicts and the outbreak of wars, are some of the major phenomena appearing during the downswing or upswing phases of long cycles. In this article, we examine the extent to which these phenomena constitute stylized facts of the different phases of long cycles which recur quite regularly in the turbulent economic history of capitalism. The main argument of this paper is that the evolution of long cycles is a result of the long-run movement of profitability. During the downswing of a long cycle, falling profitability induces innovation investment and the associated with it 'creative destruction' of the capital stock that eventually set the stage for the upswing phase of a new long cycle.
    Keywords: Long Cycles, Innovations, Profit rate.
    JEL: B14 B24 E11 E32
    Date: 2017–09
  3. By: Lecoutere, Els; Wuyts, Eva
    Abstract: This study investigates the impact of introducing participatory intrahousehold decision-making on the empowerment of women in agricultural households in sub-Saharan Africa, particularly in Ugandan coffee farming households. Participatory intrahousehold decision-making is expected to empower women through increasing their voice and lifting collective action problems, which otherwise compromise efficiency and equity of the household farm. With a mixed methods approach this study captures the impact on multiple dimensions of empowerment, including women’s perceptions of the process, meaning and value. Women portrayed three possible pathways towards empowerment in their household: “Breaking through the wall of patriarchy” – the preferred pathway but conditional on being married to a cooperative husband - “Circumventing” it, or having “No choice but to take full responsibility” in case of husbands who are ill or migrant workers. On the basis of a randomized encouragement of couples to participate in an intervention introducing participatory intrahousehold decision-making, we quantitatively demonstrated the catalyzing effects on different domains of women’s empowerment, including involvement in strategic household decisions, women’s control over household income, personal income and assets. Women’s decision-making power about cash crop production, another strategic domain that women value, increased to some extent. These impacts support women in following a pathway to empowerment by “Breaking through the wall of patriarchy”, but are also valuable for women for whom that pathway is out of reach. Policies and programmes introducing participatory intrahousehold decision-making have the potential to empower women in domains they value and should be combined with effective ways to accomplish women’s wish to gain economic power to actively contribute to the development of their household.
    Keywords: women empowerment; intrahousehold decision-making
    Date: 2017–11
  4. By: Giorgio Ffagiolo (Scuola Superiore Sant'Anna Pisa Italy); Daniele Giachini (Scuola Superiore Sant'Anna Pisa Italy); Andrea Roventini (Scuola Superiore Sant'Anna Pisa Italy also OFCE Sciences Po Paris)
    Abstract: This paper extends the endogenous-growth agent-based model in Fagiolo and Dosi (2003) to study the finance growthnexus. We explore industries where firms produce a homogeneous good using existing technologies, perform R&D activities to introduce new techniques, and imitate the most productive practices. Unlike the original model, we assume that both exploration and imitation require resources provided by banks, which pool agent savings and finance new projects via loans. We find that banking activity has a positive impact on growth. However,excessive financialization can hamper growth. In- deed, we find a significant and robust inverted-U shaped relation between financial depth and growth. Overall, our results stress the fundamental (and still poorly understood) role played by innovation in the finance-growth nexus.
    Keywords: Agent based models, Innovation, Exploration vs Exploitation, Endogenous Growth, Banking Sector, Finance Growth Nexus
    JEL: C63 G21 O30 O21
    Date: 2017–11–27
  5. By: Giovanni Dosi (Scuola Superiore Sant'Anna Pisa Italy); Mauro Napoletano (OFCE Sciences PO Paris Franc); Andrea Roventini (Scuola Superiore Sant'Anna Pisa Italy also OFCE Sciences Po Paris); Joseph Stiglitz (Columbia University, New York, USA); Tania Treibich (Maastricht University and Scuola Superiore Sant'Anna,Pisa Italy & OFCE Sciences Po Paris France)
    Abstract: We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent-based model populated by heterogeneous, interacting firms. Agents have to cope with a complex evolving economy characterized by deep uncertainty resulting from technical change, imperfect information and coordination hurdles. In these circumstances, we find that neither individual nor macroeconomic dynamics improve when agents replace myopic expectations with less naïve learning rules. In fact, more sophisticated, e.g. recursive least squares (RLS) expectations produce less accurate individual forecasts and also considerably worsen the performance of the economy. Finally, we experiment with agents that adjust simply to technological shocks, and we show that individual and aggregate performances dramatically degrade. Our results suggest that fast and frugal robust heuristics are not a second-best option: rather they are “rational” in macroeconomic environments with heterogeneous, interacting agents and changing “fundamentals”.
    Keywords: Complexity, expectations, heterogeneity, heuristics, learning, agent based model, computational economics
    JEL: C63 E32 E6 G01 G21 O4
    Date: 2017–12–14
  6. By: Aurélien Dasre (CRESPPA - Centre de recherches sociologiques et politiques de Paris - UP8 - Université Paris 8, Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, INED - Institut national d'études démographiques); Angela Greulich (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, INED - Institut national d'études démographiques); Inan Ceren (SIES - Systèmes d'information et des Etudes Statistiques - French Ministry of Education and Research)
    Abstract: This paper identifies motors and barriers for combatting domestic violence against women in Turkey – a country where modernism and conservatism are in constant interplay. We combine information from the Demographic Health Surveys and the Turkish Domestic Violence Survey and distinguish between controlling behavior, physical and sexual violence. Our empirical analysis tests how far a woman's intra-household decision making power (as measured by her education, her activity status, her income etc.) bears the potential to reduce her risk of experiencing domestic violence in Turkey. The analysis takes into account contextual factors as well as partner and household characteristics. We find that women's participation in the labor market does not, on its' own, reduce women's risk of experiencing intimate partner violence, but an egalitarian share of economic resources between spouses in likely to protect women against domestic violence. This finding has two important implications: First, higher education enabling women to access formal wage employment allows women not only to gain economic independence, but also to freely choose their partner. Second, unstable economic conditions that harm earning opportunities for men are an important risk factor for couples to experience conflits that can result in domestic violence against women. Against the background of the recent economic crisis that comes hand in hand with a backlash of gender and family norms in Turkey, our results highlight the need of policy action in this field.
    Keywords: economics,Violence against women,gender
    Date: 2017–11
  7. By: Salia, Samuel; Hussain, Javed; Tingbani, Ishmael; Kolade, Oluwaseun
    Abstract: Purpose: Against the background of growing concerns that development interventions can sometimes be a zero-sum game, this paper examines the unintended consequences of microfinance for women empowerment in Ghana. Design/methodology/approach: The study employs a participatory mixed-method approach including household questionnaire surveys, focus group discussions and key informant interviews to investigate the dynamics of microfinance effects on women in communities of different vulnerability status in Ghana. Findings: The results of hierarchical regression, triadic closure and thematic analyses demonstrate that the economic benefits of microfinance for women is also directly associated with conflicts amongst spouses, girl child labour, polygyny and the neglect of perceived female-domestic responsibilities due to women’s devotion to their enterprises. Originality/value: In the light of limited empirical evidence on potentially negative impacts of women empowerment interventions in Africa, this paper fills a critical gap in knowledge that will enable NGOs, policy makers and other stakeholders to design and implement more effective interventions that mitigate undesirable consequences.
    Keywords: Microfinance; Women Empowerment; Unintended Consequences; Ghana
    JEL: G30 O1 O16
    Date: 2017
  8. By: Sergio Cesaratto
    Abstract: A paper by Peter Bofinger and Mathias Ries (2017a/b) strays from the recent rethinking in monetary analysis to criticise Summers’ “saving glut” explanation of the prevalence of low real interest rates. A similar critical perspective is held by Borio and Disyatat (e.g. 2011a/b, 2015), who are criticised, however, by Bofinger and Reis for their Wicksellian background. In this note, we compare and assess these two different views. Both Bofinger and Reis (B&R) and Borio and Disyatat (B&D) reject traditional “loanable fund theory” in favour of an endogenous money view of credit, but while B&R regard conventional marginalist (real) theory as inconsistent with the endogenous money view, B&D, following Wicksell, regard it as consistent. We sympathize with B&R’s criticism of conventional theory, especially their Keynesian view of the interest rate as a purely monetary phenomenon. Interestingly, B&R refer to the problems of marginalist capital theory as undermining the natural interest rate concept
    Keywords: Bofinger, Borio, Dysiatat, monetary theory, capital theory, Wicksell, natural interest rate
    JEL: B12 E11 E13 E4 E5
    Date: 2017–11
  9. By: Ronald Granthon Uriarte (Universidad del Pacífico)
    Abstract: Desde hace varios años en el Perú, los problemas de la exclusión/inclusión social se han identificado como un tema central para las políticas públicas y, en paralelo, se vienen creando organizaciones de voluntariado, principalmente de voluntariado juvenil. Estas organizaciones plantean actividades enfocadas en reducir las brechas económicas y sociales, fomentando una mayor inclusión de los sectores sociales menos favorecidos. Generan un gran movimiento de personas, pero muchas carecen de una buena organización o “profesionalización” de sus funciones. Una de sus áreas de enfoque es la capacitación empresarial a personas de bajos ingresos o micro y pequeñas empresas para mejorar su situación económica. Y estas últimas representan el 99% del total de empresas peruanas. La presente investigación es un estudio exploratorio que permitió identificar y documentar buenas prácticas de las organizaciones de voluntariado dedicadas a la capacitación empresarial, lo que serviría de ayuda para muchas organizaciones. Asimismo, se logró identificar algunas oportunidades de mejora para estas organizaciones de voluntariado.
    Date: 2016–07
  10. By: Torsten Trimborn; Philipp Otte; Simon Cramer; Max Beikirch; Emma Pabich; Martin Frank
    Abstract: We introduce the simulation tool SABCEMM (Simulate Agent-Based Computational Economic Market Models) for agent-based computational economic market (ABCEM) models. Our simulation tool is implemented in C++ and we can easily run ABCEM models with up to several million agents. Thanks to the object-oriented software design, this tool enables the user to design and compare multiple ABCEM models from a unified perspective. Thus, one can easily change the market mechanism or agent types. This makes it possible to quantitatively compare ABCEM models e.g. regarding the ability of each model to reproduce stylized facts. We present a qualitative study of three known ABCEM models and several variants of those. Furthermore, we discuss finite-size effects and time discretizations of ABCEM models. Finally, we show the great impact of different random number generators on the run time of ABCEM models and even on the qualitative output of the model. The code can be downloaded from GitHub, such that all results can be reproduced by the reader
    Date: 2018–01
  11. By: Thornberry, Francesca.
    Keywords: indigenous people, indigenous worker, working conditions, Central Africa
    Date: 2017
  12. By: Tim Roughgarden
    Abstract: This document collects the lecture notes from my mini-course "Complexity Theory, Game Theory, and Economics," taught at the Bellairs Research Institute of McGill University, Holetown, Barbados, February 19--23, 2017, as the 29th McGill Invitational Workshop on Computational Complexity. The goal of this mini-course is twofold: (i) to explain how complexity theory has helped illuminate several barriers in economics and game theory; and (ii) to illustrate how game-theoretic questions have led to new and interesting complexity theory, including recent several breakthroughs. It consists of two five-lecture sequences: the Solar Lectures, focusing on the communication and computational complexity of computing equilibria; and the Lunar Lectures, focusing on applications of complexity theory in game theory and economics. No background in game theory is assumed.
    Date: 2018–01
  13. By: Zoran Utkovski; Melanie F. Pradier; Viktor Stojkoski; Fernando Perez-Cruz; Ljupco Kocarev
    Abstract: Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. It resides on the premise of hidden capabilities - fundamental endowments underlying the productive structure. Due to the difficulty in modeling and quantifying capabilities, research efforts have so far concentrated on the exported products as a main proxy to infer the complexity of the productive system. To bridge this gap, we propose a novel probabilistic framework which leverages Bayesian non-parametric techniques to extract the dominant features behind the comparative advantage in exported products. Based on economic evidence and trade data, we place a restricted Indian Buffet Process on the distribution of countries' capability endowment, appealing to a culinary metaphor to model the process of capability acquisition. Our approach comes with a unique level of interpretability, as it produces a concise and economically plausible description of the instantiated capabilities. This interpretation is key for the subsequent exploitation phase which can be put forward as policy recommendations.
    Date: 2017–11
  14. By: F. M. Stefan; A. P. F. Atman
    Abstract: Behavioral Finance has become a challenge to the scientific community. Based on the assumption that behavioral aspects of investors may explain some features of the Stock Market, we propose an agent based model to study quantitatively this relationship. In order to approximate the simulated market to the complexity of real markets, we consider that the investors are connected among them through a small world network; each one has its own psychological profile (Imitation, Anti-Imitation, Random); two different strategies for decision making: one of them is based on the trust neighborhood of the investor and the other one considers a technical analysis, the momentum of the market index technique. We analyze the market index fluctuations, the wealth distribution of the investors according to their psychological profiles and the rate of return distribution. Moreover, we analyze the influence of changing the psychological profile of the hub of the network and report interesting results which show how and when anti-imitation becomes the most profitable strategy for investment. Besides this, an intriguing asymmetry of the return rate distribution is explained considering the behavioral aspect of the investors. This asymmetry is quite robust being observed even when a completely different algorithm to calculate the decision making of the investors was applied to it, a remarkable result which, up to our knowledge, has never been reported before.
    Date: 2017–11
  15. By: Adama Zerbo (GED, Université de Bordeaux)
    Abstract: Ce papier s’est fixé pour objectif d’effectuer les tests empiriques de la fonction de demande de travail issue de la théorie générale de la firme. En effet, en réfutant l’hypothèse de maximisation du profit et en adoptant l’idée que l’entreprise fonctionne, en général, sur la base de compromis entre les parties prenantes (actionnaires, managers et employés), la théorie générale de la firme aboutit, entre autres, au résultat théorique selon lequel « dans le court terme, la demande de travail ne dépend pas que du salaire réel ; elle dépend également du profit brut réel et est croissante avec ce dernier ». Les tests économétriques réalisés dans le cadre de ce travail à partir de données d’un échantillon de 370 entreprises formelles du Burkina Faso confirment ce résultat théorique. Ces tests économétriques montrent, d’une part, que la composante quantitative de la demande de travail est croissante avec le profit brut réel et décroissante avec le salaire réel et, d’autre part, que la demande composée de travail (quantitative et qualitative) est croissante avec le profit brut réel et décroissante avec la prime de qualification. De ce fait, ce papier soulève des questionnements par rapport à la représentation du marché du travail dans l’analyse macroéconomique. This paper aims to verify the labor demand function from General Theory of Firm. Indeed, rejecting the hypothesis of profit maximization and holding the idea that firm operates, in general, on the basis of compromise between stakeholders (shareholders, managers and employees), General Theory of Firm leads, among others, to the theoretical outcome according to which "in short term, the labor demand does not depend only on real wage; it also depends on real gross profit and increases along with it". The econometric tests carried out in the framework of this research confirm this theoretical outcome. They show, on one hand, that quantitative component of labor demand increases along with real gross profit and decreases along with the real wage and, on other hand, that compound demand of labor (quantitative and qualitative) increases along with real gross profit and decreases along with the qualification premium. Therefore, this paper points out questions regarding the representation of labor market in macroeconomic analysis.(Full text in french)
    JEL: D23 D24
    Date: 2018–01
  16. By: Caverzasi, Eugenio; Botta, Alberto; Capelli, Clara
    Abstract: Financialization is not just a phenomenon regarding the exponential growth of the financial sector with respect to the real side of the economy. This paper aims shedding some light on the nature and the systemic impact of new elements in the financial realm and particularly on the so-called shadow banking through a macroeconomic perspective. Our analysis shows how financial evolutions have had an impact on the monetary system and on the whole economy at multiple levels. It involved the channel through which money enters the economic system, the rise of new financial institutions and activities, the implementation of monetary policies, and the relation between the real and the financial sector. What we are witnessing is not the rise of a shady version of something old whereas the surge of new forms of financial accumulation.
    Keywords: endogenous money; securitization; shadow banking; inequality; financial instability;
    JEL: E12 E42 E44 E51 G21
    Date: 2018–01–09
  17. By: Caballero, Karina
    Abstract: El principal objetivo de este documento es identificar conjuntos de políticas públicas para atender el desafío del cambio climático el cual, es uno de los grandes desafíos del siglo XXI ateniendo a sus causas y consecuencias globales, a sus impactos negativos sobre las actividades económicas, las condiciones sociales y los ecosistemas, a los proceso necesarios para adaptarse a las nuevas condiciones climáticas y a los esfuerzos necesarios para realizar los procesos de mitigación. En este sentido y desde una óptica económica, el cambio climático puede definirse como una externalidad negativa global que es consustancial al actual estilo de desarrollo.
    Date: 2017–12–27
  18. By: Foued Cheriet (UMR MOISA - Marchés, Organisations, Institutions et Stratégies d'Acteurs - CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - INRA Montpellier - Institut national de la recherche agronomique [Montpellier] - CIHEAM - Centre International des Hautes Études Agronomiques Méditerranéennes - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier, Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier)
    Abstract: This paper aims to analyze the diversity and breadth of managerial fraud practices through the involved agents perceptions’. For this, we exploited the results of two surveys of 28 private enterprises and public officials in nine different regions in Algeria. Our results showed widespread practices of corruption and commercial or tax fraud, with an institutionalization of practices, and the existence of rational process of innovation in the fraud. These fraud practices appear to be an efficient response of businesses to adapt organization to a complex administrative context, in an unstable economic environment and an abundance of public financial funds.
    Abstract: L’objet de cet article est d’analyser la diversité et l’ampleur des pratiques de fraude managériale à travers les perceptions des acteurs impliqués. Pour cela, nous avons exploité les résultats de deux enquêtes menées auprès de 28 entrepreneurs privés et de 9 fonctionnaires publics dans différentes régions en Algérie. Nos résultats ont montré entre autres, une généralisation des pratiques de corruption et de fraude commerciale et fiscale, accompagnée d’une institutionnalisation des pratiques, et de l’existence de processus rationnel d’innovation dans la fraude. Ces pratiques de fraude apparaissent comme une réponse d’adaptation des entreprises à un contexte administratif complexe, à un environnement économique instable et à une abondance des disponibilités financières publiques.
    Keywords: fraud,enterprises firms businesses,entreprise,institution,fraude,corruption,Algérie
    Date: 2017–10–13
  19. By: Alberto Cardaci (Universita Cattolica des Sacro Cuore, Via Lodovico Necchi, Milan, Italie); Francesco Saraceno (OFCE, Sciences Po Paris, France, LUISS-SEP, Rome, Italie)
    Abstract: Our paper investigates the impact of rising inequality in a two-country macroeconomic model with an agent-based household sector characterised by peer effects in consumption. In particular, the model highlights the role of inequality in determining diverging balance of payments dynamics within a currency union. Inequality may drive the two countries into different growth patterns: where peer effects in consumption interact with higher credit availability, rising income inequality leads to the emergence of a debt-led growth. Where social norms determine weaker emulation and credit availability is lower, an export-led regime arises. Eventually, a crisis emerges endogenously due to the sudden-stop of capital ows from the net lending country, triggered by the excessive risk associated to the dramatic amount of private debt accumulated by households in the borrowing country. Monte Carlo simulations for a wide range of calibrations confirm the robustness of our results.
    Keywords: Inequality, Current Account, Currency Union, Agent-based model
    JEL: C63 D31 E21 F32 F43
    Date: 2017–12–12
  20. By: Alexandrine Lapoutte (COACTIS - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Étienne]); Clara Lohier-Fanchini; Séverine Saleilles (SAF - Laboratoire de Sciences Actuarielle et Financière - UCBL - Université Claude Bernard Lyon 1)
    Date: 2017–12–07
  21. By: Jean-Michel Salles (LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - INRA Montpellier - Institut national de la recherche agronomique [Montpellier] - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier, CNRS - Centre National de la Recherche Scientifique)
    Abstract: La modélisation économique peut-elle aider à préserver la biodiversité ?
    Date: 2017–09–26
  22. By: Paolo Melindi-Ghidi (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique); Tom Dedeurwaerdere (Université catholique de Louvain - Institut des Sciences de la Vie); Giorgio Fabbri (GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes)
    Abstract: The activities of intermediary organisations in the context of payments for agri-environmental services have broadly increased in all European countries over the last two decades. However, the impact of this new governance mechanism on environmental protection and changes in individuals' behavior has not yet been studied in the economic literature. To explore this issue, we develop a new theoretical economic framework that allows us to compare the main environmental effects of an incentive mechanism with intermediaries, such as environmental knowledge brokers and information providers, as compared to those of a standard central governance mechanism. This paper bridges the knowledge-brokering theory developed in the literature in environmental science with the process of individual preferences formation and transmission developed in the economic literature. The analysis shows that the emergence of knowledge intermediaries is particularly valuable in the context of payments for agri-environmental services in a situation where individuals, such as farmers, initially have a low level of environmental awareness. The same conclusion holds when the public institution organizing the scheme is not sufficiently apprised of individuals' characteristics. This allows us to give a theoretical justification for previous empirical results on payment schemes for agri-environmental measures.
    Keywords: Knowledge Brokers, Cultural Transmission, Pro-environmental Culture,Moral Hazard, Principal-agent
    Date: 2017–12–15

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