This paper proposes a formulation of coalitional payoff possibilities in games with externalities, based on the assumption that forming coalitions can exploit a "first mover advantage". We derive a characteristic function and show that when outside players play their best response...

This paper presents a survey of the so-called 'New Economic Geography' (NEG) approach to International Trade, giving particular emphasis to the impact of labour mobility on the spatial distribution of economic activities across integrated countries. The liberalisation of international trade...

Sustainable development is a relatively well-known concept. Although there are many definitions, the underlying concepts and aims are generally agreed upon. Many local communities have established a 'vision' of sustainability in terms of policies, goals, actions, etc in order to translate...

In Capitalism, Socialism and Democracy (CSD, 1942), Schumpeter presents his paradoxical thesis that capitalism will destroy its own foundation, not by failure but by its success. He argues that the emergence of unfavourable circumstances will activate strong opposition from social critics and...

This paper analyses the conditions under which a group of firms has the incentive to sign a Voluntary Agreement (VA) in order to control its emission flows even in the presence of free-riding by other firms in the industry. For the purpose of this paper it is assumed that free-riders cannot be...

We analyse the conditions under which an (S,s) rule may be derived and compare these with alternative rules. We consider the case of labour demand with fixed adjustment costs. The (S,s) rule implies a specific ordering of choices: downward adjustment, non-adjustment and upward adjustment with...

In this paper we analyse methods which allow us to estimate and identify the sources of censoring in dynamic models. We explicitly take into account the existence of corner solutions by considering a discrete-time-discrete-choice dynamic structural model. The availability of microeconomic...

In this paper we consider various privatisation mechanisms in a general equilibrium model. We show that privatisation has no real effects, if the public sector is efficient and lump-sum taxes are implemented. The free distribution of public assets is financially neutral, whereas the sale of...

The purpose of the paper is to outline an analytical framework which captures the ample scope of locational competition: cost differences, resulting from differences in factor prices including taxes, human capital, infrastructure services and total factor productivity. If cost differences are...