Using real options,this paper formulates an optimal stopping model for applying pest control measures when the density of a pest population varies randomly. A delay between successive pesticide applications is introduced to analyze the farmer's expected marginal cost of reentry. This model is...

The preservation of biodiversity requires the protection of endangered species' habitats. In Canada, approximately 60 percent of these habitats are located on private lands. We start by analysing the obstacles to the protection of endangered species' habitats, with special attention to the...

A methodology is demonstrated for analyzing the economic impacts of various weight limits for heavy vehicles through an application to New York State. Truck usage data were gathered from truck operators in 1990-1991 through three seasonal mail surveys, which allowed the collection of sensitive...

Using real options, we formulate an optimal stopping model for applying pest control measures when the density of a pest population fluctuates randomly. This model is applied to the control of a foliar pest of apples (the European Red Mite) via a pesticide, and solved numerically by a...

This paper analyses the decision to invest to reduce the emissions of a stock pollutant under environmental uncertainty. It shows that this decision depends on the type and level of uncertainty. When uncertainty is small, there is no simple irreversibility effect because of the tension between...