As with many other developing economies, Egypt pursues a policy of keeping domestic energy prices below border prices. This entails both financial subsidies to energy producers and users, and significant opportunity costs in terms of foregone foreign and government revenues. This article details...

Environmental economics has typically adopted two approaches to the demonstration of the optimal level of pollution. The first superimposes a marginal pollution cost (MPC) function on the traditional model of the profit maximising firm and demonstrates that Pareto optimality requires the output...

Richard Quandt has recently noted an increasing tendency on the part of professional economists to introspect their work and activities. Whether this trend derives from some existential angst brought on by a feeling that the marginal social return from the n th journal article does not differ...