the cost of these guarantees. The most common technique is to 'over-fund' the benefit: the contribution rate is set high …

uncertainty over the cost of completion. The first is technical uncertainty, i.e., uncertainty over the amount of time, effort … proceeds. The second is input cost uncertainty, i.e., uncertainty over the prices and quantities of labor and materials …'s value, and I use it to show how these two types of uncertainty have very different effects on investment decisions. As an …

technologies under uncertainty. Specifically, given two technologies, one with lower costs at present, but the other with greater … uncertainty in the returns to R&D, how should one allocate the R&D budget? We develop a multi-stage stochastic dynamic programming … higher cost technology is justified, and that the amount of R&D into the high cost technology increases with both the …

cost: a gas tax and an optimal weight varying mileage tax. Comparing these options, we find that the cost is similar for …

We use data from a sample of day care centers to estimate the relationships between cost and the quality of the child … development. Taking the estimated cost-quality and revenue-quality relationships as given, we then estimate the objective … functions of the firms and compute the supply function for quality. The results indicate that (1) the estimated cost function is …

spatially-varied reduction in the cost of communicating across locations. We study the impact of this reform on the production …

considerations of opportunity cost. Remarks about rights to life, liberty, health, justice and the like are readily inserted into …

time. Back-of-the-envelope estimates of the annual cost in human lives range from $5.33B to $13.24B …