John Brätland

In his 1997 book, Guns, Germs and Steel, Jared Diamond attributes the ascendancy and triumphs of certain societies to geographical and environmental advantages. 

The winner’s curse was “discovered” in low rates of return on certain types of capital goods acquired in auctions or negotiated acquisitions. 

The Hotelling Principle defines socially-optimal conservation of an exhaustible resource i a mathematically-defined, equilibrium environment in which no human action can occur.