In most developing countries wastewater treatment systems have very low coverage or function poorly, resulting in large-scale water pollution and the use of poor-quality water for crop irrigation, especially in the vicinity of urban centres. This can pose significant risks to public health,...

The paper presents an innovative method for assessing simultaneously technical and economic benefits of transmission expansions. This method takes into account the new needs of the transmission planning process for competitive electricity markets, in which benefits of major transmission...

This study develops a discrete choice locational equilibrium model to evaluate the benefits of the air quality improvements that occurred in the Los Angeles area following the 1990 Clean Air Act Amendments (CAAA). The discrete choice equilibrium approach accounts for the fact that air quality...

This study develops a discrete choice locational equilibrium model to evaluate the benefits of the air quality improvements that occurred in the Los Angeles area following the 1990 Clean Air Act Amendments (CAAA). The discrete choice equilibrium approach accounts for the fact that air quality...

We model pre-investment R&D decisions in the presence of spillover effects in an option pricing framework with analytic tractability. Two firms face two decisions that are solved for interdependently in a two-stage game. The first-stage decision is: what is the optimal level of coordination...

In this paper, I explain why it is sensible to discount future risk free costs and benefits at a rate of 4% in the short run and of 2% in the long run. The riskiness of future cash flows must be taken into account by imputing risk premia rather than by an arbitrary increase in the discount rate....

Applauded by several Nobel-price winners (Mirrlees, Sen, Solow, Stiglitz) the Stern review has been soon exposed to severe criticisms of other economists, noticeably North-American. The core of those criticisms targets choices of the discount rate and the way uncertainty and adaptation of future...

Heavily (about 99%) depending on imported energy, Taiwan, a country in the subtropics, has limited natural resources. In this regard, biomass energy from (MSW) municipal solid waste incineration plants thus became attractive during the 1990s. The objective of this paper is to present a...