The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods which disregard uncertainty, investigating distortionary...

The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods which disregard uncertainty, investigating distortionary...

The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods that disregard uncertainty, investigating distortionary...

Motivated by co-operational patterns of farmer societies in developing countries, I present a model of joint interaction between risk sharing against idiosyncratic shocks and co-operation over public investments reducing aggregate risk in presence of limited commitment constraints. The model is...

Fossil fuels support a lot of economies worldwide but also generate a lot of quantities of carbon dioxide when burned. These carbon emissions trap heat in the atmosphere and lead to climate change and consequential environmental degradation and health issues. One of the fundamental questions is...

A global planning problem is analyzed for extracting an exhaustible resource like oil when resource extraction - the only source for current consumption - also generates additions to the stock of GHGs that influence the likelihood of hitting a threshold representing climate change. We derive...