This paper examines the bargaining problem between firms' owners and managers over their managerial delegation contracts in a duopolistic market with differentiated-products. Assuming that delegated managers make every managerial decision in the market, we analyze how the managers'' bargaining...

Climate change is an externality since those who emit greenhouse gases do not pay the long-term negative consequences of their emissions. In view of the resulting inefficiency, it has been claimed that climate policies can be evaluated by the Pareto principle. However, climate policies lead to...

We examine utilitarian criteria for evaluating profiles of wellbeing among infinitely many individuals. Motivated by the non-existence of a natural 1-to-1 correspondence between people when alternatives have different population structures, with a different number of people in each generation,...

This paper studies a class of social welfare relations (SWRs) on the set of infinite utility streams. In particular, we examine the SWRs satisfying Q-Anonymity, an impartiality axiom stronger than Finite Anonymity, as well as Strong Pareto and a certain equity axiom. First, we characterize the...

This paper studies the extensions of the infinte-horizon variants of the leximin principle and utilitarianism on the set of infinite utility streams. We especially examine those extensions which satisfy the axiom of Preference-continuity (or Consistency) and the extended anonymity axiom called...

Climate change is an externality since those who emit greenhouse gases do not pay the long-term negative consequences of their emissions. In view of the resulting inefficiency, it has been claimed that climate policies can be evaluated by the Pareto principle. However, climate policies lead to...