A sound empirical and quantitative analysis on the relationship between different patterns of urban expansion and the environmental or social costs of mobility is rare, and the few studies available provide at best a qualitative discussion of these issues. Some recent tentative studies on the...

The demand for air transport is largely determined by the spending capacity of customers. Thispaper aims to offer more insight into the determinants of price elasticities in the aviation sector. Itseeks to identify both common and contrasting factors that influence the price elasticities, on...

We characterize the investor’s optimal portfolio allocation subject to a budget constraint and a probabilistic VaR constraint in complete markets environments with a finite number of states. The set of feasible portfolios might no longer be connected or convex, while the number of local optima...

The concept of resilience has received a great deal of attention in the past decades. Starting fromthe first fundamental definitions offered by Holling, Pimms and Perrings in an economic-ecologicalmodeling context, the present paper explores the ‘evolution’ of the resilience concept – as...

Environmental sustainability issues have in recent years received much attention from the side ofenvironmental scientists and economists. There is a broad recognition on the relevance of externaleffects in open and interacting spatial systems. It would be helpful if ecological economic...

International and interregional trade and transport are on the rise and hence, there is a clear needfor reliable estimates of transport flows. However, the available databases and estimation methodsare not yet satisfactory for analytical and predictive purposes.In this paper we explore the use...

Under the new Capital Accord, banks choose between two different types of risk management systems, the standard or the internal rating based approach. The paper considers how a bank's preference for a risk management system is affected by the presence of supervision by bank regulators. The model...

This paper aims to analyze and depict urban equilibrium from the perspective of acomplex force field between (positive) agglomeration economies and (negative) environmentalexternalities. Based on a simplified representation of a linear urban economy, anarchetypical model based on general...

The linear Gaussian state space model for which the common variance istreated as a stochastic time-varying variable is considered for themodelling of economic time series. The focus of this paper is on thesimultaneous estimation of parameters related to the stochasticprocesses of the mean part...

Pesticide use in agriculture poses several risks to both human health and non-target agro-ecosystems. Due to lack of information on the monetary value of reducing pesticide risks, it is difficult to perform an economic analysis that addresses social efficiency of policy and draws conclusions...