We provide a novel characterization of the feasible payoff set of a general two-player repeated game with unequal discounting. In particular, we show that generically the Pareto frontier shifts outwards and the feasible payoff set expands in the sense of set inclusion, as the time horizon...

China is believed to have gained immensely from its admission into to the World Trade Organization (WTO) in 2001. One of the direct gains comes from the lessening of deadweight loss (DWL) due to tariff reduction. Conventional measures for DWL, however, are too aggregate to capture the trade...

The beginnings of globalisation are usually dated to the last third of the twentieth century, alongside the rise of supranational companies, the financial economy and the information technology revolution. However, from the time the Earth was "anthropocized" during the Palaeolithic era,...

International migration afflicts nearly every corner of the globe, from the Americas, Europe and North Africa, and adjoining countries in South Asia. This migration links the socio-economic statuses of migrants' home countries and those into which they are migrating. This phenomenon has a...