Rules governing superannuation investments are made with respect to investment-specific risks, rather than overall portfolio risks. In particular, legislation prohibits borrowing except in specific circumstances and on a non-recourse basis. We model the distribution of leveraged portfolio...

Time use data (TUD) are distinctive, being episodic in nature and consisting of both continuous and discrete (exact zeros) values. TUD is non-negative and generally right skewed. To analyze such data, the Tobit, and to a lesser extent, linear regression models are often used. Tobit models assume...

This study investigates a new problem in the area of environmental valuation: how much is a public environmental asset worth to a private company? We ask this question in the context of dust abatement, where the asset is air quality. A company wants to know what level of dust abatement is...