We present a model that focuses on the links between location and educational choices in South African cities. Be comparing the Apartheid city and the post-Apartheid city, we show that the inequality in South Africa between blacks and whites decreases when Apartheid laws are removed.

Kinckerbocker (1973) introduced "oligopolistic reaction" to explain why firms follow rivals into foreign markets. We develop a model that incorporates the central features of Kinckerbocker's story -oligopoly, uncertainty, and risk aversion- to establish the conditions required to generate...

Knickerbocker (1973) introduced "oligopolistic Reaction" to explain why firms follow rivals into foreign markets. We develop a model that incorporates the central features of Knickerbocker's stroy - oligopoly, uncertainty, and risk aversion - to establish the conditions required to generate...

Traditional trade models ignoring the dimension of product quality generally lead to excessively low trade price elasticities. In this paper, we show that higher estimated trade price elasticities, more in conformity with theory, can be obtained by controlling product quality in trade equations....

The general purpose of this paper is to prove quasiequilibrium existence theorems for production economies with general consumption sets in an infinite dimensional commodity space, without assuming any monotonicity of preferences or free-disposal in production.

We derive from Bernis [2000] a strategic mechanism which fully implements the set of competitive equilibria on a dynamically incomplete reinsurance market VIA Nash equilibria. The mechanism is feasible, and such that the set of coalition proof Nash equilibria coincides with that of Nash...

A hierarchic price is a finite ordered family of price vectors {p1,...,pk}. It extends the notion of exchange values proposed by Gay (1978). These price notions were introduced in order to establish the existence of a competitive equilibrium without the strong survival assumption. It is well...