This paper yields sufficient conditions for Pareto inoptimality of controls forming Nash equilibria in differential games. In Appendix a result on existence of open loop Nash equilibria is added.

This paper yields sufficient conditions for Pareto inoptimality of controls forming Nash equilibria in differential games. In Appendix a result on existence of open loop Nash equilibria is added.

This paper shows, using a simple model, that wasteful innovations may result in a loss-loss situation where no country experiences an increase in welfare. If some countries introduce innovations that result in harmful effects on other countries, it may cause the adversely affected countries to...

This paper examines the controversy involving international trade by employing a simple model. It analyzes the effects of unilateral technological improvements in one entity on the welfare of that entity and its trading partners. Improvements in one country are irreversible and lead to...