This paper explores conflicts between two groups, "the industry" and "the environmentalists", over whether an indivisible resource (e.g., an ancient tree) should be harvested or preserved. The problem is first analysed as a complete information "war of attrition". Under the "rationalizability",...

We study the multifunctional character of agriculture based on the fact that agriculture produces jointly a number of food and non-food products. We augment the model of private agriculture with endogenous input and land allocation to include biodiversity, landscape amenity, and chemical runoff.

This paper discusses mixed systems in which SMEs functioned successfully in the presence of extensive state ownership of large enterprises and even classical central planning. Past and present examples are considered in which a small enterprise system worked around , with, and in the interstices...

Business is becoming increasingly international. At the same time, governments are intervening more in the conduct of business. A further development is the growing significance of emerging economies, many of which have a tradition of active government involvement with business. Taken together,...