This paper studies the formation of self-enforcing global environmental agreements in a world economy with international trade and two groups of countries that differ with respect to fuel demand and environmental damage. It investigates whether the signatories’ threat to embargo (potential)...

Ecological systems (ecosystems, for short) are complex systems of interacting species, plants and animals, where each of the species consists of individual organisms that interact with organisms of the same or other species in various ways: they compete for scare resources and they are involved...

This is a comment on Urs Schweizer's paper with the above title presented at the International Seminar on the New Institutional Economics in Wallerfangen, May/June 1989. After focusing on problems in selecting rules and outcomes of rules, it discusses the Buchanan-Tullock issue of...