We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

Governments are increasingly reliant on the reacquisition of water rights as a mechanism for recovering overexploited basins. Yet, serious concerns have recently been raised about the efficacy and operational dimensions of existing programs. Water buyback is typically implemented as the purchase...

The development of an international trade during the last few years have shown, that there exist substantial impediments to the good trade performance of the East and Central European countries. These problems are both of an internal economic policy nature and of an international trade policy...

Superfund cleanup has been extremely slow. Traditional analysis has centered around reducing negotiation and litigation to expedite the cleanup process. We investigate other factors which provide possible incentives for delay, namely, discounting, risk aversion, and compensation for off-site...

The basic concern of this paper is the effect of private sponsorship of university research on the allocation of expenditures between public good research and commercial applications. Throughout the land-grant university system, there is much concern that as a result of reduced government...