Researchers' incentives to publish in top-tier journals are examined by a theoretical model. Using incentives to deliver optimal quality of research as a benchmark, the model concludes that the former incentives result in misallocation of resources and welfare loss. The main reasons behind it...

The goal of this paper is to promote two ideas neglected by economists: sole ownership in fisheries and quantity regulation of a monopoly. By reviewing contemporary literature, the paper constructs an argument that sole ownership would not only solve many problems inherent to Individual...

We propose a new intra-seasonal model for a fishery that allows for explaining both efficiency gains and welfare effects related to the introduction of individual quotas in fisheries previously operating as regulated open access. Our model is also suitable for analyzing international fisheries...

We find equilibrium price distributions in a search model with asymmetric duopolists whose marginal costs differ. There are informed consumers who know both prices and buy at the lower one and uninformed consumers who, not knowing prices, choose a store arbitrarily. With asymmetries, pure...

The optimal income tax problem, since it requires self-selection constraints which define nonconvex feasible sets, is one of the many problems in economics for which randomization in the solution may be desirable. For a two-class economy. we characterize the optimal random tax schedules and we...