In this paper we address the implications of production risk for controlling fishing effort in a regulated fishery in a framework where fishers maximize expected utility of profit. We focus on controlling effort through season closures that limit the number of days the fishery is open to harvest...

Time-varying GARCH-M models are commonly employed in econometrics and financial economics. Yet the recursive nature of the conditional variance makes exact likelihood analysis of these models computationally infeasible. This paper outlines the issues and suggests to employ a Markov chain Monte...

In this paper we are concerned with the issue of the existence of locally uniform Edgeworth expansions for the distributions of parameterized random vectors. Our motivation resides on the fact that this could enable subsequent polynomial asymptotic expansions of moments. These could be useful...

We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form...

The increasing scarcity of natural resources (in terms of quantity and quality) is one of the most pervasive allocation issues facing development planners throughout the world. The need for sustainable management of these valuable resources has become a critical policy concern. Econometrics is a...

The scarcity of water resources in both arid and temperate countries alike is one of the most pervasive natural resource allocation problems facing water users and policy makers. In the EU this has been recognised in the recent work on the Water Framework Directive. In arid countries this...

We present methods and tools that can be used to study dynamic environmental resource management in a spatial setting, to explore spatially dependent regulation, and to understand pattern formation.In particular we present the maximum principle and its use in the context of the emerging frontier...

This paper computes and analyses for the first time environmental efficiencies in waste generation of 160 European regions in NUTS 2 level in seven European countries. For this reason different Data Envelopment Analysis (DEA) model formulations are used modeling the pollutant in the form of...

This paper deals with higher order asymptotic properties for three indirect inference estimators. We provide conditions that ensure the validity of locally uniform Edgeworth approximations. When these are of sufficiently high order they also form integrability conditions that validate locally...