A theoretical model is adopted in order to examine optimal fare and optimal quality of supply schemes for a transport operator. The analysis shows how fares and quality of supply are related to travel distance and to the transport operator's weight on profit versus consumer surplus. Under...

The paper deals with rent-seeking behaviour among agents competing for future shares of a common renewable natural resource. Rent-seeking might become profitable when the agents expect that the distribution of the natural resource in future periods will be dependent on the agents' extraction of...