This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time, forecast errors, and the location of generators in the...

The growth of cultural tourism globally has presented an important opportunity for public investment in tourism to drive economic development in developing countries. With Bolivia's regional disparities in income and opportunity, it is critical to understand the regionally differentiated welfare...

The main aim of the paper is to highlight the relation between flexibility and vertical integration. To this purpose, we go through the selection of the optimal degree of vertical disintegration of a flexible firm which operates in a dynamic uncertain environment. The enterprise we model enjoys...

Climate change mitigation can be achieved, according to many, by means of Reducing emissions from deforestation and forest degradation in the Tropics (REDD). Within the climate change policy debate we thus find discussions on how to reduce GHG emissions by designing appropriate REDD programmes...