It is well known that perfectly competitive free trade is potentially beneficial for all countries if all goods are both rivalrous and excludable in consumption (“private goods”) and recently (2011) the proposition has been modified to accommodate non-rivalrous and non-excludable goods...

The core normative propositions of the theory of international trade have been established in the context of finite competitive economies of the Walras–Arrow–Debreu–McKenzie (WADM) type. Whether the propositions survive the recognition that economies might last for ever, with overlapping...

We consider two dynamic games of foreign aid. <link rid="ss3">Model 1</link> deals with the case where donor countries continually feel the warm glow from the act of giving. <link rid="ss32">Model 2</link> postulates that donors will stop giving aid when a target level of development is reached. In <link rid="ss3">Model 1</link>, there are multiple equilibria that...