Many information acquisition activities can be postponed within a predefined time-frame. In uncertain situations, the option to postpone the information acquisition to a later, more favorable time may create value. We discuss the value that comes from holding an option to acquire information in...

This paper examines the relationship between biofuels, field crops and cattle prices in the U.S. from a new perspective. We focus on predictability in distribution by asking whether ethanol returns can be used to forecast different parts of field crops and cattle returns distribution, or vice...

Patterns of convergence in per-capita consumption of energy and electricity are studied from a large cross-country data set covering the period 1971–2007. Along with unconditional β-convergence, we use σ-convergence criterion and a simple model of conditional β-convergence. The exploration...