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Recent computational methodologies, such as individual-based modelling, pave the way to the search for explanatory insight into the collective behaviour of molecules. Many reviews offer an up-to-date perspective about such methodologies, but little is discussed about the practical information requirements involved. The biological information used as input should be easily and routinely determined in the laboratory, publicly available and, preferably, organized in programmatically accessible databases. This review is the first to provide a systematic and comprehensive overview of available resources for the modelling of metabolic events at the molecular scale. The glycolysis pathway of Escherichia coli, which is one of the most studied pathways in Microbiology, serves as case study. This curation addressed structural information about E. coli (i.e. defining the simulation environment), the reactions forming the glycolysis pathway including the enzymes and the metabolites (i.e. the molecules to be represented), the kinetics of each reaction (i.e. behavioural logic of the molecules) and diffusion parameters for all enzymes and metabolites (i.e. molecule movement in the environment). Furthermore, the interpretation of relevant biological features, such as molecular diffusion and enzyme kinetics, and the connection of experimental determination and simulation validation are detailed. Notably, the information from classical theories, such as enzymatic rates and diffusion coefficients, is translated to simulation parameters, such as collision efficiency and particle velocity.

This paper introduces the idea of anticipated pleasure into the Ramsey growth model, by assuming that in addition to current consumption, an agent's current utility depends upon a reference consumption level based on expected future consumption. Two alternative specifications of the anticipated future consumption levels are considered: an external index and an internal index. We analyze the macrodynamic equilibrium, comparing it to both the standard Ramsey model and the model of habit formation. We establish a number of theoretical propositions characterizing the impact of the anticipated consumption reference on the transitional dynamics and long-run equilibrium, supplementing these with numerical simulations. (2003) emphasize the distortionary aspect in the case where aggregate economy-wide consumption is introduced contemporaneously into the individual's utility function. Turnovsky and Monteiro (2007) undertake a similar task when the consumption reference point is based on the discounted sum of past economy-wide consumption levels. 4 In terms of the terminology introduced by Köszegi and Rabin (2006), the reference point is chosen as an endogenously determined expectation, rather than as the status quo.

PurposeRecent research supports the role of productive government spending as an important determinant of economic growth. Previous analyses have focused on the separate effects of public investment in infrastructure and on investment in education. This paper aims to introduce both types of public investment simultaneously, enabling the authors to address the trade‐offs that resource constraints may impose on their choice.Design/methodology/approachThe authors employ a two‐sector endogenous growth model, with physical and human capital. Physical capital is produced in the final output sector, using human capital, physical capital, and government spending on infrastructure. Human capital is produced in the education sector using human capital, physical capital, and government spending on public education. The introduction of productive government spending in both sectors yields an important structural difference from the traditional two‐sector growth models in that the relative price of human to physical capital dynamics does not evolve independently of the quantity dynamics.FindingsThe model yields both a long‐run growth‐maximizing and welfare‐maximizing expenditure rate and allocation of expenditure on productive capital. The welfare‐maximizing rate of expenditure is less than the growth‐maximizing rate, with the opposite being the case with regard to their allocation. Moreover, the growth‐maximizing value of the expenditure rate is independent of the composition of government spending, and vice versa. Because of the complexity of the model, the analysis of its dynamics requires the use of numerical simulations the specific shocks analyzed being productivity increases. During the transition, the growth rates of the two forms of capital approach their common equilibrium from opposite directions, this depending upon both the sector in which the shock occurs and the relative sectoral capital intensities.Research limitations/implicationsThese findings confirm that the form in which the government carries out its productive expenditures is important. The authors have retained the simpler, but widely employed, assumption that government expenditure influences private productivity as a flow. But given the importance of public investment suggests that extending this analysis to focus on public capital would be useful.Originality/valueTwo‐sector models of economic growth have proven to be a powerful tool for analyzing a wide range of issues in economic growth. The originality of this paper is to consider the relative impact of government spending on infrastructure and government spending on human capital and the trade‐offs that they entail, both in the long run and over time.

Why do some academics continue to be productive after receiving tenure? This paper answers this question by using a Stackelberg differential game between departments and scholars. We show that departments can set tenure rules and standards as incentives for scholars to accumulate academic habits. As a result, academic habits have a lasting positive impact on scholar's productivity, leading to higher productivity growth rates and higher productivity levels. JEL Classification Numbers: A11, A14, C79.

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We devise an endogenous growth model in which agents’ utility depends not only on current consumption but also on the pleasure of anticipated future consumption. We consider the case in which agents derive satisfaction from their own anticipatory feelings—inward-looking or internal anticipation—and the case in which agents derive utility from anticipation of other people’s future consumption—outward-looking or external anticipation. We characterize the effects of introducing a forward-looking consumption reference on the dynamics of the economy. Whereas the inward-looking economy features transitional dynamics, the outward-looking economy does not. The distortions caused by the externality in the economy with external habits can be corrected by subsidizing income at a time-varying rate or by means of a tax on consumption at a decreasing rate. We contrast the equilibrium dynamics of our specification to the more standard specification of the habit formation consumption reference point. Numerical simulations supplement the theoretical analysis.