In this article, I address the question of negotiation analysis pertaining to the Cancun Ministerial of the World Trade Organization (WTO). Albeit, the deep differences between developed and developing countries on various trade issues could not be accommodated and the Cancun Ministerial finally...

We study the consumption-portfolio problem with realized capital gain taxation. The distinguishing feature of our analysis is that we impose on the model an important element of the tax code that has received little attention in the academic literature: the limited use of capital losses....

What makes a city? Rather than a totality, a city is best understood through focusing upon different but interconnected spaces and processes that make for both dynamism and instability in human lives. Hence, the book ranges across a number of sites in order to explore their connections. How do...

We consider the portfolio delegation problem in a world with complete contingent claim markets. A principal hires an agent to manage a portfolio. When the agent has limited liability (that is, there is a lower bound on the compensation contract), she may have an incentive to take on excessive...