Using a conjectural variations model of strategic rivalry, the paper examines the implications of regional policies aimed at creating local employment, given that many regions are pursuing the same policies. Among its results is an explanation for the recent, dramatic shift in regional policy...

This paper examines the welfare effects of an international commodity transfer when the volume of the transfer is uncertain. It shows that, if there is strong risk aversion, the recipient (the donor) could be absolutely worse off (better off) as a result of such transfer.

This paper examines the effects of firm-specific taxes on an oligopoly composed of firms of unequal sizes, holding different conjectures, operating with nonidentical costs. Four types of effects are analyzed: on profits, on industry concentration, on total tax revenue, and on social welfare. The...

This article draws attention to the kind of externalities that can only be used as inputs for multi-input public goods. It contrasts the effect on relative prices of a corrective Pigovian scheme for these externalities with those for the more familiar types. Implications of the results are...