The Arrow/Fisher/Henry/ study of land development in the presence of uncertainty has been conducted in a two period model in which the development decision is indivisible. Very recently, this study has been extended to analyze the development problem in a multi-period framework. Nevertheless,...

A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...

A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...

In this paper we focus on a married couple and analyze a game of marital infidelity. The husband can either be faithful to or cheat on his wife. The wife decides how much effort to expend monitoring her husband and she chooses monitoring effort m∈[0,1]. Our analysis of this strategic...

In this note we analyze a game model of marital infidelity. The husband can either be faithful to or cheat on his wife. The wife can either monitor or not monitor her husband. We first determine the best response correspondences of the two players. Second, we explain why there is no...

The n total consumers in the market for a particular good are made up of b brown and g green consumers so that b g=n. The b brown (g green) consumers are not (are) environmentally conscious and hence they prefer to buy a new (remanufactured) good denoted by N and R respectively. By strategically...