Externalities can be internalized through market mechanism, government regulation, or self-governing institutions or a mix of these institutions. We recommend the institutional route which minimizes total cost (sum of technology, management, and transaction costs) to the firm. These costs are...

Policy goals of efficiency, equity, and sustainability may not be independent. Also the policy instruments. i.e. price mechanism, fiscal policy, and scale may be related. We need to find answers about who shall decide the scale at the national and international level? If equity and scale are...

Efficiency, Growth and Exports are the main items on nation’s economic agenda. There is some concern (perhaps not adequate) for developing Safety Nets for people hurt/left out by growth. Unfortunately environmental implications of industrial restructuring have not been given adequate...

In this paper we provide an axiomatic characterization of a choice function due to Cao (1981) multiattribute choice problems.