This paper shows that cultural identity may have considerable influence on the WTP to protect natural resources. The Basque Country, the region with the highest ethnic homogeneity in Europe, serves as an example to illustrate how important this issue can be in the environmental valuation of...

We propose a two-dimensional Kalman filter approach that, additional to the information contained in futures prices evolution over time, makes use of information contained in the term structure of commodity futures along a second dimension of maturities. This time-maturity surface reflects a...

Developmental monetary benefits of coast artificialisation projects are rarely confronted with the environmental benefits that its conservation may entail. As a consequence, policy-makers often face decision making processes in which monetary benefits have to be balanced with physical impacts...

Statistical studies that consider multiscale relationships among several variables use wavelet correlations and cross-correlations between pairs of variables. This procedure needs to calculate and compare a large number of wavelet statistics. The analysis can then be rather confusing and even...

In a recent paper Leong-Huang:2010 {Journal of Applied Statistics 37, 215Ӳ33} proposed a wavelet-correlation-based approach to test for cointegration between two time series. However, correlation and cointegration are two different concepts even when wavelet analysis is used. It is known that...