context and in two canonical, stylized economies. We argue that the maximin value of utility measures what is sustainable and … provides the limit to growth. Maximin value is interpreted as a dynamic environmental-economic carrying capacity and current … utility as an environmental-economic footprint. The time derivative of maximin value is interpreted as net investment in …

byproduct we show general existence of a maximin optimal path under weaker conditions that those employed in previous work. Our …

restore the efficiency of equilibria …

We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … without. Our analysis finds that restructuring led to: (1) a two percent improvement in fuel efficiency for IOs, (2) a ten …

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments … efficiency gains can overcome its anti-competitive effects in terms of welfare, we show that when firms merge usually both of the …

disposal a capital tax and an environmental standard. Petchey (2015) claims that the efficiency result of Oates and Schwab can … be extended to a large price-influencing jurisdiction. In the present note we show that the concept of Pareto efficiency …

This paper shows that subsidy competition may be efficiency enhancing. We model a subsidy game among two asymmetric …