As our trading world becomes more globalized, who benefits and who gets hurt? This paper relies on the Ricardian model to explore the effects of technological improvements in underdeveloped countries on the welfare of developed countries. For example, trading between the United States and China,...

Given a world consisting of two countries, two commodities, and two consumers, this paper analyzes the potential effects of the current global trend of shifting world productions with regards to consumer goods. When technological improvements occur in a developing country, would terms of trade...

This paper shows, using a simple model, that wasteful innovations may result in a loss-loss situation where no country experiences an increase in welfare. If some countries introduce innovations that result in harmful effects on other countries, it may cause the adversely affected countries to...

Considerable resources have been expended over the years debating the business tax treatment of market-purchased insurance versus self insurance. Following a long tradition, the U.S. Internal Revenue Service treats only the latter as acceptable evidence of risk shifting and therefore worthy of...

We formulate and analyze two models for determining the optimal pricing, order quantity and replenishment period for items whose demand function is separable into components of price and inventory age. The first model assumes a multiplicative demand function. We provide conditions, which are...

The expanding car industry has revealed an increase in the use of robots and machines together with a decrease in labor. This phenomenon refocuses attention on the possible existence of labor as an inferior input with robots as rival technical alternatives. In our paper we suggest a specific...