Future<strong> </strong>scenarios provide challenging, plausible and relevant stories about how the future could unfold. Urban Futures (UF) research has identified a substantial set (450) of seemingly disparate scenarios published over the period 1997–2011 and within this research, a sub-set of 160 scenarios...

This article presents a general equilibrium model in which middlemen emerge to facilitate trade in an environment of idiosyncratic tastes and heterogeneous goods. The gains to the traders can be measured along three dimensions: the rate of production, the time-preference losses generated by the...

This paper develops a model in which competing governments offer financial incentives to individual firms to induce the firms to locate within their jurisdictions. Equilibrium is described under three specifications of the supplementary taxes. There is no misallocation of capital under two of...

Our paper extends the capital tax competition literature by incorporating heterogeneous capital and agglomeration. Our model nests the standard tax competition model as well as the special case in which there is agglomeration but no firm/capital heterogeneity and the opposite case, firm...

An "ex post" social welfare function is used to evaluate alternative healthcare systems. If a society is averse to inequality and there is some income disparity, social welfare under private healthcare insurance is sometimes higher and sometimes lower than social welfare under public healthcare....

This paper develops a model in which competing governments offer financial incentives to induce individual firms to locate within their jurisdictions. Equilibrium is described under three specifications of the supplementary taxes. There is no misallocation of capital under two of these...

A model in which a high-productivity region and a low-productivity region bargain with each firm in a group of mobile firms is constructed. It differs from the Han and Leach [7] model in that the firms are identical, so that its comparative statics are more tractable. The model is used to...

If society is averse to inequality and there is some income disparity, private health care insurance is sometimes socially better and sometimes worse than public health care. However, a third system? public health care with the option to purchase supplemental health care insurance? is always...

A model of tax competition in which firms earn rents is described. The size of these rents, coupled with the degree to which the firms are foreign-owned, determine the equilibrium tax rates. The existence of rents significantly alters some generally accepted results involving the possibility of...