This paper considers the well-known Levhari-Mirman model of resource extraction, and investigates the effects of the information structure of the dynamic game - open-loop, Markovian or history-dependent - on the equilibrium consumption path and the overall utility of the agents. The open-loop...

A technique is proposed to represent games in characteristic function form as games in normal form, enabling the former to exploit the concepts of solution of the latter. A new solution for games in characteristic function form is then introduced and some properties are found. A generalization...

This note generalizes the Solow-Stiglitz efficiency condition for natural resources to the problem of fossil fuel extraction with a greenhouse effect. The generalized optimality condition suggests that the greenhouse effect implies overextraction in the sense of leaving future generations a...

This article examines the concept of Pareto optimality, bringing to light some of its implicit assumptions about the nature of human agency, work, and gender. It explores the androcentric character of the economic agent and the gendered nature of neoclassical models in relation to the historical...

Recent world events have cast a spotlight on what role, if any, discriminatory screening should play in aircraft security. This paper argues that if observable characteristics indicate differing probabilities of committing acts of terrorism, then following a non-discriminatory screening policy...

In the present paper, an optimal growth model for which transformation possibilities are supposed to be bounded in the short run and unbounded in the long run - maybe due to adjustment costs or accummulation costs - is considered. It is shown that equilibria exist and that equilibrium...