We construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. We are especially interested in investigating the transmission of lower import prices into consumer prices and the effects of retail market regulation. The paper shows that changes in import prices may have large effects on consumer pr...

This paper examines a two-period mixed market model in which a welfaremaximizing public firm and a profit-maximizing private firm can use inventory investment as a strategic device. It is then demonstrated that the equilibrium in the second period coincides with the Stackelberg solution where the private firm is the leader, and at equilibrium, both social welfare and the private firm’s profit a...

This paper examines three main questions: Is it possible to create a market for genetic resources? Is it a perfectly or an imperfectly competitive market? What impact could this market have on the management of biodiversity in the context of sustainable development? I analyse the conditions for baccessQ and buseQ of knowledge of genetic resources and the genetic resources themselves. I then con...

held in Paris in July, quickly dispels that illusion, for there it was shown that in many other countries a similar experiment is, in a greater or lesser degree, being worked out, even though the stage of development reached is nowhere so advanced as in Britain. All the 1,500 representatives of the forty nations present were concerned with the same problems and asking the same questions. How is...

This paper examines the problem of aggregating infinite utility streams with a social welfare function that respects the Hammond Equity and Weak Pareto Axioms. The paper provides a complete characterization of domains (of the one period utilities) on which such an aggregation is possible. A social welfare function satisfying the Hammond Equity and Weak Pareto Axioms exists on precisely those do...

We consider a setting in which a single divisible good (“cake”) needs to be dividedbetween n players, each with a possibly different valuation function over pieces of thecake. For this setting, we address the problem of finding divisions that maximize thesocial welfare, focusing on divisions where each player needs to get one contiguouspiece of the cake. We show that for both th...

The acceptability of the Nash Social Welfare Function is questioned because a minute (perhaps hardy perceivable) werfare change of;someone with a very low welfare level might overwhelm enormous welfare changes of others. The axiomatic derivation of the Nash S WF by Kaneko and Nakamura is analyzed. Arguments for and against social welfare as separable in, linear in, and an unweighted sum of indi...

We examine welfare theoretic foundations for solutions to the health care resource allocation problem based on measures of quality adjusted life-years (QALYs). Conditions for representing the individuals’ preferences by QALY measures, as well as conditions for the existence of a social welfare function being a function of the individuals’ QALYs only are established. The QALY measures represent ...