that hedging effectiveness is much higher when the seasonal pattern in spot price changes is approximated with lagged … values of the basis (futures price minus spot price). This fact remain true for short (a week) and long (one, three and six … months) hedging periods. Furthermore, volatility of weekly price changes also has a seasonal pattern and is higher in winter …

would substitute away from products in proportion to the increase in price, and not increase purchases of added sugar or … these taxes to address concerns about rising obesity. We demonstrate the range of impacts a tax on added sugar and salt …-responsive firms and consumers, and everything in between. Fully responsive firms would reformulate products to reduce sugar and salt …

We consider an optimal consumption and pollution problem that has two important features. Environmental damages due to … perpetual decrease in environmental quality and consumption, both asymptotically converging toward zero. Therefore, accounting … for the risk of irreversibility induces more conservative decisions regarding consumption and polluting emissions. In …

When consumption of water and other utilities is measured collectively and payment for such services is equally shared … installation of individual meters affects water consumption. Using rich administrative data from the public water utility company … in Quito, Ecuador, it is estimated that water consumption decreases by about 8% as a result of the introduction of …