New technology is usually expensive and it takes time for manufacturers to make the technology more accessible. In the stereo industry, the first Super Audio Compact Disk (SACD) player made by Sony, SCD-1, sold for $5,000 in 1999; in 2002 the cheapest of Sony's new SACD players, SCD-CE775, had a...

In this paper we explore the implications of the possibility of “trade in trash†on optimal environmental policy and on the ramifications of a stronger or weaker environmental lobby across regions or nations. We have constructed a multiple stage game composed of a market stage and a...