The factors most often cited as the causes of the California crisis are the scarcity of generation capacity, a flawed market design, and the venality of electricity producers. However, many of these attributes were present in other electricity markets, none of which have suffered through anything like the California crisis. The only factor not seen in other markets in the world is the lack of c...

Why recycle? The most commonly stated reason for recycling is to reduce burdens associated with the disposal of our never-ending stream of wastes. Waste disposal potentially causes air and water pollution and is costly; moreover, landfi lls compete with other land uses. In addition, recycling can extend our supply of materials to alleviate scarcity and to moderate rising prices of raw materials...

False bad news about population growth, natural resources, and the environment is published widely in the face of contradictory evidence. For example, the world supply of arable land has actually been increasing, the scarcity of natural resources including food and energy has been decreasing, and basic measures of U.S. environmental quality show positive trends. The aggregate data show no long-...

"This paper examines the flow of Asian-born scientists and engineers and their labor market adjustment. First, main elements to affect their immigration flow are described: supply, demand, and institution....The scarcity of domestic workers is the most important factor affecting demand of immigration. Institution, such as immigration policies, is another element to influence the immigration ...

This article contributes to the debate of missing money (e.g. Joskow(2007)) which has seriously questioned the desirability of caps on scarcity prices in markets with fluctuating demand by emphasizing their potentially negative impact on firms investment decisions in the long run. A prominent example are recently liberalized electricity markets, where competition authorities have imposed caps i...

Science serves its readers as a forum for the presentation and discussion of important issues related to the advancement of science, including the presentation of minority or conflicting points of view, rather than by publishing only material on which a consensus has been reached. Accordingly, all articles published in Science-including editorials, news and comment, and book reviews -are signed...

Economic models of decision making assume that people have a stable way of thinking about value. In contrast, psychology has shown that people's preferences are often malleable and influenced by normatively irrelevant contextual features. Whereas economics derives its predictions from the assumption that people navigate a world of scarce resources, recent psychological work has shown that peopl...

Despite Bali’s dependency on tourism, concerns over the impact of tourism water scarcity are increasing. The objective this study is to analyze clean demand related growth and compare them with available supply. This suggested that has increased by 20.8 million m3 (295%) from 1988 2013. Sixty-eight percent increase was concentrated in Badung Regency, where ratio 31% 46%. also rapid population c...