Retaliation and other strategic trade policies can be readily observed in world commodity markets. Strategic behaviour can be analysed with game-theoretic models. Game theory is used to assess the effects of retaliation, given that traders assume that rivals will respond to any policy change....

Recent increases in the harvests of southern bluefin tuna, particularly by Australian fishermen, have led to the recognition that the fishery is overexploited. A model is developed to examine the effects that quotas on Australian and Japanese harvesting would have on economic welfare and on...