We pose three Knapsack Problems (KPs) to select the rank-maximizing subset of wines subject to budget and quantity constraints. The first problem seeks the subset of wines, from a single cultivar (zinfandel) that maximizes the sum of rank subject to a budget constraint. We modify this problem by...

An intergenerational model of resource development is constructed to examine the concepts of option and existence value. These concepts are seen to relate to a more fundamental concept: the expected value of perfect information. The analysis would suggest that when sequencing irreversible...

A simple bieconomic model (the Gordon-SChaefer model) is estimated for three species of tuna in the Eastern Tropical Atlantic. The model conformed well to the data and afforded estimates of maximum sustainable yield, bioeconomic and open access equilibria. Strong marginal stock effects were...

Bioeconomics to date has focused almost exclusively on lumped parameter models where the resource is described by a single state variable defined as biomass. While such models are convenient mathematically they may be inappropriate in fisheries where recruitment and fecundity are dependent on...