This paper estimates the determinants of the size of oil tanker spills. In the lit- erature, spill size has been estimated but the results are not very strong. A review of the existing results is provided and the determinants of spill size using a sample selection model are estimated. Estimates...

This paper estimates the determinants of the size of oil tanker spills without dis- tributional assumptions on the error terms. We employ semiparametric estimation techniques to estimate the parameters of a sample selection model and compare them to the estimates from a sample selection model...

This paper presents a model of endogenous oil spill regulation where the severity of regulations is shown to be a function of the size of recent spills. The regulator chooses how much to regulate in order to maximize political capital when regulations are rigid downwards and the distribution of...

This paper is a contribution to the vast literature on the inefficiency in the index options markets. Previous research has found that trading based on implied volatility forecasts do not generate positive profits for the S&P 500 index options but GARCH volatility forecasts do. Trading based on...