This paper has three basic purposes. The first is to review a rigorous framework for the analysis of commons dilemmas proposed by Dasgupta that avoids many basic faults of the usual apparatus. The second is to relate this analysis of the commons to models of external effects and public foods....

The economic value of energy storage to meet peak electricity demand is analyzed with an emphasis on the role of demand uncertainty. The concept of the stabilization value, which measures that part of the benefit of the storage project which is due solely to the stochastic demand components, is...

The solution to the problem of how long a present valve maximizing forester should let trees grow has a long history in the literature of economics and forestry. Until recently, however, the comparative statics of the forestry problem when there are two decision variables, an initial input at...