We examine the effects of marginal changes in continuous variables on the joint, conditional and marginal probabilities involved in the bivariate probit model. The connection between effects in the univariate and bivariate probit models is also explored. We illustrate these effects using a...

We use a model of endogenous growth with vertical innovations, in order to derive optimal energy policy under uncertainty. Innovation can be directed to dirty, green, or nuclear technologies, which in turn can be used to produce different types of energy. We show that, nuclear energy usage, is...