The impetus for this dissertation is to explain why well-functioning markets might be able to stay at or near a market equilibrium. We argue that tatonnement, a natural, simple and distributed price update dynamic in economic markets, is a plausible candidate to explain how markets might reach their equilibria. Tatonnement is broadly defined as follows: if the demand for a good is more than the...

In the developing economies, optimal forest regimes should incorporate the socio-economic characteristics of the user groups. And, since socio-economic factors will change with time, optimal forest regimes will also follow a dynamic path. The two most important socio-economic factors are the heterogeneity of the user group with respect to forest management and the direct dependence of the user ...