This paper develops a dynamic model of North-South trade in which environment plays an important role. Our model is based on Chichilnisky North-South model for the macroeconomic interaction between two sectors of the world economy. The latter was introduced in a static context. We introduce...

Recent findings in economic theory show that cooperation (settlement) between two identical players with conflicting interests in a valuable and contestable resource always Pareto dominates violent dispute (war), given that cooperation is presented using a symmetric bargaining norm. Necessary...

A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.

The effect of property rights allocation on characteristics of the vertically integrated company and properties of the corresponding market equilibria are studied. It is shown that partial integration can induce inefficient super-monopolistic market equilibria and unbalance in the functioning of...

This article develops a theoretical framework to examine the relationship between land tenure agreements and households’ investment in land improvement and conservation measures. It then analyzes this relationship with a multivariate probit model based on a survey data from a sample of 560...

A game-theoretical model of the investment value formation of the instruments of corporate control (shares or stakes in equity) is formulated and analyzed. It is shown that this value depends significantly on the allocation of equity among the owners, and the on the possibilities of the...

This chapter focuses on how the lack of property rights in North-South trade of primary resources can distort trade and threaten the sustainablility of development. This issue is examined within a two-region world economy where one region, the North, represents the industrial countries, and the...

We are on the threshold of a truly revolutionary era of discovery - ranging from the origins of the universe to new states of matter and microscopic machines, from a new understanding of the oceans and of the biological connections across the Earth's species to the functioning of the human brain...

The theory of trade based on differential property rights presented here initiated in Chichilnisky (1991), based on the North-South model introduced in Chichilnisky (1981, 1986). The model and the results in this paper differ however from the previous work in that the dynamics of the renewable...

To explain the patterns of world trade of resources, this paper combines the biological dynamics of the renewable resource and game theoretical explanations of its extraction under different property regimes, with a general equilibrium model of North South trade (Chichilnisky, 1981, 1986). The...