Congestion can reduce the value of a fishery, resulting in a lower total catch for the same amount of labor, fuel, and equipment expended in fishing activities. Absent the congestion externality, better information about the location and size of fish stocks enables fishers to make more efficient...

This paper studies a dynamic game where each of two large blocs, of fossil fuel importers and exporters respectively, sets either taxes or quotas to exercise power in fossil-fuel markets. The main novel feature is the inclusion of a "fringe" of non- strategic (emerging and developing) countries...

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters payoffs, but they have different beliefs about how policy choices will...

A significant and growing share of US agricultural output is produced under a production or marketing contract. An important controversy regarding agricultural production contracts is the control of non-labor inputs. Over time, contracts have tended to place more inputs under the buyer's control...

Currently available political economic tools are not very useful for predicting the outcomes of real-world policy problems. Researchers have limited information on which to assign parameters to the mappings from policies to outcomes to utilities or to represent the political process adequately....