90 Classical problems in economics are concerned with the solutions of several simultaneous nonlinear optimization problems, one for each consumer or producer, all facing constraints posed by the scarcity of resources. Often their interests conflict, and it is generally impossible to find a...

This paper examines the role of the international market in mediating North-South relations and analyzes how the market works in distributing the gains from trade. It is argued that the international market does not always provide an adequate engine of growth for the South if that region...

A problem of existence and characterization of solutions of optimal growth models in many sector economies is studied The social utility to be optimized is a generalized form of a preference depending additively on consumption at the different dates of the planning period. The optimization b...

Classic formulations of markets regard uncertainty as originating from acts of nature. I extend this to a formulation of markets which face risks induces by the economy itself, such as the environmental risks of atmospheric and climate change induced by CFC and CO2 emissions. I formulate and...

The paper studies a two-region economy , with two sectors and three factors of production : oil, capital and labor . The South exports oil in exchange for industrial goods from the North . There is a net capital inflow to the South . This equals the difference between its export revenues and...

Major pharmaceutical companies such as Smith Kline Beecham, Merck, Glaxo and Lilly, and a score of smaller ones, are developing profitable business opportunities in the world's forest while preserving biodiversity and producing incentives for leaving the forests intact. This case study covers...

We consider here optimal use patterns for renewable resources and address the problem of optimal use of renewable resources under a variety of assumptions both about the nature of the economy in which these resources are embedded and about the objective of that economy. Although we focus here on...

In this paper we study a utility representation for preferences, and we price its continuity, using a topology for preferences introduced by Chichilnisky (1977). Such utility representations were constructed under restrictive conditions first by Y. Kannai and S. Reiter (1974, 1975). Our results...

Economics often provides the wrong incentives to those who control the assets, such as people in developing countries where most forests are located and who could potentially benefit most from conservation . There is increasing unease about this situation, and an emerging view is that standard...

Today's rapid and profound international evolution requires an update of the development agenda. As East-West relations alter radically and forge history, new trends in global capital markets; telecommunications and new technologies erode inexorably the old structures and alter permanently the...