Purpose – The purpose of this paper is to analyze a market for microfinance in a region of a developing nation in which all projects are either of high or low quality. There is adverse selection because only borrowers know whether their project is of high or low quality but the microfinance...

Purpose – The purpose of this paper is to analyze a market for microfinance in a region of a developing nation in which all projects are either of high or low quality. There is adverse selection because only borrowers know whether their project is of high or low quality but the microfinance...

We use a Stackelberg differential game to model trade in renewable resources between a monopsonistic buyer and a monopolistic seller. The buyer uses unit and ad valorem tariffs to indirectly encourage conservation of the resource under study. First, we show that the efficacy of these tariffs in...

The n total consumers in the market for a particular good are made up of b brown and g green consumers so that b g=n. The b brown (g green) consumers are not (are) environmentally conscious and hence they prefer to buy a new (remanufactured) good denoted by N and R respectively. By strategically...

We analyze the hitherto unstudied duopolistic interaction between a new good producer and a remanufacturer who compete for a dominant share of the market for a particular product. Each firm i spends d_i ≥ 0 on product development to sway consumers and this expenditure increases the likelihood...

We analyze the hitherto unstudied duopolistic interaction between a new good producer and a remanufacturer who compete for a dominant share of the market for a particular product. Each firm i spends d_i ≥ 0 on product development to sway consumers and this expenditure increases the likelihood...

We study water use by two geographically proximate farmers in a particular region during a drought. The two farmers each have an endowment of time that can be used either to produce water or to steal water. The price of water is exogenously given. The goal of the two farmers is to maximize their...

We study water use by two geographically proximate farmers in a particular region during a drought. The two farmers each have an endowment of time that can be used either to produce water or to steal water. The price of water is exogenously given. The goal of the two farmers is to maximize their...