T contribution of forestry sector in Nepal’s economy is significant. As 39.06% of the country’s area is forests, this sector has diverse economic potential. This sector can contribute towards achieving the Millennium Development Goals in Nepal (Kanel, 2004). The country lies within tropical to alpine climates and hosts a wide diversity of plant and animal species. For instance, Nepal has docume...

Natural resources have driven both growth and conflict in modern Africa. We model the interaction of parties engaged in potential conflict over such resources. The likelihood of conflict depends on both the absolute and relative resource endowments of the parties. Resources fuel conflict by raising the gains from appropriation and by increasing fighting strength. Economic prosperity, as a resul...

Opportunity cost is a central concept in decision making. It is difficult to measure because it is the value associated with opportunities foregone. In this paper, we characterize three timebased dimensions of resources to help understand and estimate opportunity costs. These dimensions capture the intrinsic lumpiness of resources with respect to their acquisition (acquisition granularity), the...

The most common metric for assessing the adequacy of economic preparation for retirement is the income replacement rate, the ratio of income after retirement to income before retirement. However both economic theory and common sense say that someone is adequately prepared if she is able to maintain her level of economic well-being, which is not the same as maintaining her level of income or som...