No matter how pronounced intraday patterns may appear, it is difficult to account for cross-correlations among related assets when those assets trade continuously and simultaneously. Futures contracts are auctioned periodically and sequentially on the Tokyo Grain Exchange (TGE). Even though...

Mathematical programming models of “representative” farms are commonly used to evaluate policies such as input subsidies and output price supports. On canals in India, upstream farmers routinely use more irrigation water than allotted. In such circumstances, the programming model should...

Not as much abatement as has been presumed. Smog check programs aim to curb tailpipe emissions from in-use vehicles by requiring repairs whenever emissions, measured at regular time intervals, exceed a certain threshold. Using data from California, we estimate that on average 41% of the initial...