The main result of this paper is that when two asymmetric regions compete in pollution taxes to attract a polluting firm, optimal location will happen under complete information but not necessarily under incomplete information. It is shown that incomplete information on regions' pollution costs...

This paper expands on the theory of irreversible investment under uncertainty, incorporating capacity constraints and uncertainty of input price. No restriction on the demand elasticity value is imposed. Assuming that the input price follows a geometric Brownian motion, the optimal irreversible...

In this paper, we analyze the problem of optimal domestic credit expansion for a small open economy.

La pollution est incorporee comme une externalite de production dans le modele de concurrence monopolistique des produits differencies. Nous adoptons la version de Krugman d'un modele propose par Dixit et Stiglitz pour etudier l'effet d'un effort de depollution et celui de la taille du marche...

We compare the economic efficiency of a publicly-owned utility directly controlled by the government with a publicly-owned utility regulated by a public utility commission (PUC). Regulation by a PUC is modelled as a Nash equilibrium of a game between two principals, the government and the PUC,...