The advantages and disadvantages of genetic modification of organisms in agriculture are reviewed. These relate to the environment, human health, socio-economic effects, population growth, and differential consequences for developed and developing countries. An overall evaluation requires that...

Elements of an integrated analysis of a land/water use and nature conservation in De Vechtstreek area are presented. This is a river plane composed of patches of lakes and polders, in the centre of The Netherlands. The attention is focused on the economic dimensions of the research. To this end,...

Harmful algal bIoom species are the cause of important damages to marine living resources and human beings. These marine species are primarily introduced in North-European waters through ballast water, i.e. water trans-ported across the oceans so as to keep a vessel in balance. Port authorities...

This paper provides an empirical description of the relationshipbetween the trading system operated by a stockexchange and the transaction costs faced by heterogeneous investors who use the exchange. Therecent introduction ofSETS in the London Stock Exchange provides an excellent opportunity...

This paper gives a concise overview of environmental-economicanalysis. Important issues and modern developments in the field aresurveyed in a systematic way. Next, the concept of sustainabledevelopment is discussed, as it has dominated environmental economicsfor almost a decade now. In addition,...

Contemporary financial stochastic programs typically involve a trade-offbetween return and (downside)-risk. Using stochastic programming we characterize analytically (rather than numerically) the optimal decisions that follow from characteristic single-stage and multi-stage versions of such...

We provide a new definition of breakdown in finite samples with an extension to asymptotic breakdown. Previous definitions center around defining a critical region for either the parameter or the objective function. If for a particular outlier constellation the critical region is entered,...

The search for frameworks and indicators of sustainable development has taken a prominent place in this journal. However, some specific aspects have received little or no attention, notably the spatial dimension and the role of international trade in indicator development. Moreover, many...

Theoretical and empirical aspects of policy failures due to subsidies are discussed in the context of international trade. A general classification of subsidies that cause environmental externalities is presented. The economic and environmental impacts of producer subsidies on international...