This paper considers the allocation of two types of individuals differentiated by levels of talent within and between two countries when they choose to be workers or entrepreneurs. The equilibrium with international migrations requires both countries to be sufficiently different in talent...

We develop a new framework for the analysis of the impact of trade liberalization on the wage structure. Our model focuses on the decision of workers to accumulate firm-specific skills, by "on-the-job" training, knowing that this means their future wages will have to be negotiated, and that the...

There are more and more industries in which firms are specialized in the production of a component of the final good. This is especially true in high-tech industries. The basic question is why don't these firms merge? We paradoxically show that industries which are typical candidates for...

[fre] Nous montrons que quand des firmes polluantes sont des concurrents à la Cournot, elles peuvent avoir une incitation à utiliser des permis de pollution comme moyen indirect de coordonner leur production. Si les firmes sont initialement identiques, les échanges de permis peuvent conduire...

We consider variable preference relations, also called reference dependent preference relations, which are typical in the study of dynamic models in economic theories. We introduce a new concept of weak consistency, a generalization of acyclicity, as an immediate regret condition for variable...