This paper analyses both the basic assumptions and the results of the better known and widely used global models - specifically, the UN world model, the RIO (Reshaping the International Order) model and the Bariloche model - in relation to basic needs and to North-South interdependence. The...

This paper examines how, in the presence of individual risk, economic efficiency can be achieved without an unrealistically large number of contingent markets. The authors show that consistency of beliefs and optimality of allocation can be guaranteed with an appropriate array of Arrow...

Differences in property rights create a motive for trade among otherwise identical regions. Two regions with identical technologies, endowments, and preferences will trade if one, the South, has ill-defined property rights on environmental resources. Trade with a region with well-defined...