In the context of a three-stage model with consumers differing in their health insurance coverage, the paper shows that there exist conditions under which the price of brand-name drugs increases following the entry of generic drugs.

In this paper, we consider a three-stage game in the context of a competing exporters model to compare and contrast the effects of discriminatory and uniform (Most Favored Nation, MFN) tariffs on countries' choice over environmental standards for varying degrees of pollution spillovers. Because...

Although 72% of the earth surface is covered by water, less than 1% of the world’s fresh water is directly accessible for human uses. Given humans’ water consumption patterns and the world population growth rate, these fresh water reserves have been shrinking all over the world at an...

There are two serious failures that arise in the management of solid waste. The first relates to the existence of negative externalities in the individual decision-making over waste generation and disposal. When individuals decide on how much to consume and what to consume, they do not take into...