We construct a dynamic game to model a monopoly of finitely durable goods. The solution concept is Markov-perfect equilibria with general equilibria embedded in every time period. Our model is flexible enough to simultaneously explain or accommodate many commonly observed phenomena or stylized...

Located at the low-lying deltaic floodplain of Ganges–Brahmaputra–Meghna river basin, Bangladesh suffers damages from flooding with regularity. From the perspective of long-term planning and management, a reliable flood damage function is a critical component in the estimation of...

During the past few decades, a large number of ground-coupled heat pump (GCHP) systems have been widely applied in various buildings around the world due to the attractive advantages of high efficiency and environmental friendliness. However, most buildings in warm-climate or cold-climate areas...

Active queue management (AQM) is an effective method used in Internet routers for congestion control, and to achieve a trade off between link utilization and delay. The de facto standard, the random early detection (RED) AQM scheme, and most of its variants use average queue length as a...

The Las Vegas Valley metropolitan area is one of the fastest growing areas in the southwestern United States. The rapid urbanization has presented many environmental challenges. For instance, as population growth and urbanization continue, the supply of sufficient clean water will become a...