The authors construct a model in which a first mover decides on its location before it knows the identity of the second mover; joint location results in a negative externality. Contracts are inherently incomplete since the first mover's initial decision cannot be specified. The authors analyze...

A model of externalities with sequential location choice is developed. The first mover decides on location before it knows the identity of the second mover. Joint location results in a negative externality. The court, having limitd information, allocates property rights over the externality...

This paper extends analysis of the GATT Uruguay Round qualifiying the impact of international patent harmonization as implied by the TRIPs agreement.

This paper develops a dynamic model to account for the enhanced incentive effects that result from market reform in the form of a move toward private property rights and competitive market.