In this article, we develop a model of military manpower mobilization. We use the model to evaluate the efficacy of volunteer- and conscription-based manpower systems within a framework of social welfare maximization. We find that neither conscription nor a volunteer approach is likely to be...

Many observers of Israel's defense resource allocation process believe that insufficient resources are devoted to troop quality, while excessive resources are devoted to weapon quality. In this paper, we offer a potential explanation for this phenomenon. In our example, officers seek to signal...

The ideal water contract for a heterogeneous population of users is a prioritized right that is fully vested and fully tradable. A set of tradable, prioritized rights contracts will span the same space as the Debreu contingent commodities. Therefore, they lead to a competitive equilibrium that...

Insurgencies and terrorist activities are often dependent on foreign sources of funding. When this is the case, trade barriers such as import tariffs can prove to be an effective means of combating violence and enhancing social welfare. In this article, we identify the optimal tariff for a...