The n total consumers in the market for a particular good are made up of b brown and g green consumers so that b g=n. The b brown (g green) consumers are not (are) environmentally conscious and hence they prefer to buy a new (remanufactured) good denoted by N and R respectively. By strategically...

We study the strategic interaction between a new good producer and a remanufacturer who use advertising campaigns to compete for a dominant share of the market for a certain good. Each firm chooses one of three possible strategies for running its advertising campaign. The two rival firms care...

We exploit the public good attributes of information and communication technologies (ICTs) and theoretically analyze an aggregate economy of two smart cities in which ICTs are provided in either a decentralized or a centralized manner. We first determine the efficient ICT levels that maximize...

Beginning with the ground breaking work of K. Arrow and L. Hurwicz, there now exists a sizeable literature in economics on the stability of economic systems. However, to the best of our knowledge, this literature in economics does not contain any analyses of the stability of stochastic...

Beginning with the ground breaking work of K. Arrow and L. Hurwicz, there now exists a sizeable literature in economics on the stability of economic systems. However, to the best of our knowledge, this literature in economics does not contain any analyses of the stability of stochastic...

The sizeable literature on extinction in economics has paid scant attention to the problem of constructing measures of species extinction. Moreover, this literature has not studied the question of species extinction in stochastic systems that are jointly determined. Consequently, the objective...

We analyze a market for microfinance in a region of a developing nation in which all projects are either of high or low quality. There is adverse selection because only borrowers know whether their project is of high or low quality but the microfinance institutions (MFIs) do not. The MFIs are...

Queuing mechanisms are commonly used in developing countries and in transition economies to allocate goods characterized by excess demand to citizens. Bribery and favoritism frequently accompany the use of such queuing mechanisms. Therefore, we first analyze a queuing model of resource...

We use a Stackelberg differential game to model trade in renewable resources between a monopsonistic buyer and a monopolistic seller. The buyer uses unit and ad valorem tariffs to indirectly encourage conservation of the resource under study. First, we show that the efficacy of these tariffs in...

We first construct three measures of the expected damage from the unintentional introduction of alien species into a country called Home. We then focus on four market structures. First, perfect competition prevails in both Home and Foreign and Home is a small country. Second, the Home and the...