We consider a model of 'tenancy rent control' where landlords are not allowed to raise the rent on sitting tenants nor to evict them, though they are free to set the nominal rent when taking on a new tenant. If there is any inflation in the economy, landlords prefer to take shortstaying tenants....

A popular form of action to curb child labor and uphold international labor standards in general is a product boycott by consumers. There are labeling agencies that inform us if, for instance, a carpet or a hand-stitched soccer ball is free of child labor. The presence of a consumer boycott will...

A definition of a utilitarian social welfare relation (SWR) for infinite utility streams is proposed. Such a relation is characterized in terms of the Pareto, Anonymity and Partial Unit Comparability Axioms. The merits of the utilitarian SWR, relative to the more restrictive SWR induced by the...

We consider a rent control regime where rent increases on, and eviction of, a sitting tenant are not allowed. However when an apartment becomes vacant the landlord is free to negotiate a new rent. Under such a regime, if inflation exists, landlords prefer to rent to short-staying tenants. Since...

This paper considers a developing nation that faces a foreign exchange shortage and hence its demand for foreign goods is limited both by its income and its foreign exchange balance. Availability of international credit relaxes the second constraint. We develop a simple model of strategic...

It has been known that, in aggregating infinite utility streams, there does not exist any social welfare function, which satisfies the axioms of Pareto, inter-generational equity and continuity. We show that the impossibility result persists even without imposing the continuity axiom, and in...