Among the ethical objections to intergenerational impartiality is the violation of consumer sovereignty given that individuals are impatient. We accommodate that concern by distinguishing intra- and inter-generational discounting in an OLG model suitable for analyzing sustainability issues....

A corollary of the Bebreu-Scarf theorem is that, under ideal conditions, contracts serve as perfect substitutes for markets. Applying these propositions to sharecropping provides a rigorous foundation for the competitive theory of share tenancy. In addition, it is shown that the competitive...