Michael R. Caputo

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Understanding more about how the brain functions should help us understand economic behaviour. But some would have us believe that it has done this already, and that insights from neuroscience have already provided insights in economics that we would not otherwise have. Much of this is just academic marketing hype, and to get down to substantive issues we(More)
Commodity levies are used increasingly to fund producer collective goods such as research and promotion. In the present paper we examine theoretical relationships between producer and national benefits from levy-funded research, and consider the implications for the appropriate rates of matching government grants, applied with a view to achieving a closer(More)
Agricultural economists' view of duality has often assumed the characteristics of an ambivalent relation. During the eighties, several authors published papers which put in doubt this or that aspect of duality. This study emphasizes the notion that duality is a time-honored approach suitable for solving problems that can be expressed mathematically.(More)
The relationships among the Hamiltonian, NNP, and the level of sustainable consumption/utility have been widely misunderstood. This paper dispels the misconceptions and provides further new insight into these relationships. We show generally that for autonomous dynamic optimizing economies, a necessary and sufficient condition for sustainability is the(More)