Purpose – The purpose of this paper is to 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...

The aim of this paper is to analytically review the contemporary scientific literature in range management. To this end, we first focus on the ecology and the management of rangelands. Second, we concentrate on the economics and the management of rangelands. Third, we shed light on significant...

We model international trade in renewable resources between a single buyer and competitive sellers as a Stackelberg differential game. The buyer uses unit and <i>ad valorem</i> tariffs to indirectly encourage conservation of the renewable resource under study. First, we show that the efficacy of these...

We first construct a theoretical model of tax evasion in a stylized developing country in which all taxpayers have either high or low income. The key problem is that the high-income taxpayers may underreport their income. An individual income tax return can only be verified with an audit that...