Excludable and congestible shared goods - club goods (e.g., internet access facilities) - are more prevalent than Samuelsonian public goods. Our example shows that, unlike the usual presumption with pure public goods, the optimal second-best supply of a club good might exceed its first-best...

This thesis analyses fiscal policy in four models of economic growth.The first model is a variant of Jones [61]; overlapping generations are introducedand it is shown that the allocation is dynamically inefficient. Asin Diamond [42], a debt financed transfer to current generations can leadto a...

Exant theoretical studies of goodwill have, with one exception, explored the relationship between advertising and sales. We construct a simple model of the firm's pricing and quality control when it loses goodwill, hence future sales, should it produce defective commodities. Given a...