We here expand the static tax competition models in symmetric small regions, which were indicated by Zodrow and Mieszkowski (1986) and Wilson (1986), to a dynamic tax competition model in large regions, taking consideration of the regional asymmetry of productivity of public capital and the...

Cheap, abundant and easy to transport and store, coal has been produced and consumed to meet people’s energy needs. The last decade’s growth in global coal use has been driven mainly by developing economies like China, whose phenomenal economic growth has been powered by coal-fired...

We consider repeated games with transferable utility: players have an endowment of wealth in each period in which transfers can be made. We show that if endowments are large enough and the comon discount factor high enough, then a trongly renegotiation-proof equilibrium (SRP) in the sense of...

In this paper I propose a general model of repeated strategic interaction with possibly private information, which is particulary suitable to study learning processes.