Data published by the U.S. Congressional Budget Office show that over the last fifty years expenditures for infrastructure�s operations and maintenance (O&M) have roughly equalled those for new capital. We use this dataset to investigate the productive impact of public...

This paper presents an application of the choice experiment method in order to provide estimates of economic values generated by water quantity improvements. More importantly, this is the first choice experiment study valuing scientific information and in particular scientific information on...

A simpli��ed energy balance climate model is considered with the global mean temperature as the state variable, and an endogenous ice line. The movements of the ice line towards the Poles are associated with damage reservoirs where initial damages are high and then eventually...

We welfare rank different types of second-best environmental policy. The focus is on the roles of uncertainty and public finance. The setup is the basic stochastic neoclassical growth model augmented with the assumptions that pollution occurs as a by-product of output produced and environmental...

This paper develops linear quadratic robust control theory for a class of spatially invariant distributed control systems that appear in areas of economics such as New Economic Geography, management of ecological systems, optimal harvesting of spatially mobile species, and the like. Since this...

The purpose of this paper is twofold: ?rst, to survey the statistical models of stock returns that have been suggested in the ?nance literature since the beginning of the twentieth century; second, to examine under the prism of the contemporary philosophy of science, which of the aforementioned...

In view of the ambiguities and the deep uncertainty associated with climate change, we study the features of climate change policies that account for spatially structured ambiguity. Ambiguity related to the evolution of the natural system is introduced into a coupled economy-climate model with...

In this paper we examine whether the real prices of eleven natural resource commodities exhibit stochastic or deterministic trends. A common methodological feature in the relevant empirical literature, most of which published in the Journal of Environmental Economics and Management, has been so...

In this article we investigate the role of information spillovers in promoting irrigation technology adoption and diffusion. In particular, we investigate the effect of different channels of information spillovers, namely informal social learning and formal extension services, while...

We couple a spatially homogeneous energy balance climate model with an economic growth model which incorporates two potential policies against climate change: mitigation, which is the traditional policy, and geoengineering. We analyze the optimal policy mix of geoengineering and mitigation in...