Recent theoretical developments relating to investment under uncertainty have highlighted the importance of irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing empirical literature which examines uncertainty and...

The failures of traditional target-species management have led many to propose an ecosystem approach to fisheries to promote sustainability. The ecosystem approach is necessary, especially to account for fishery-ecosystem interactions, but by itself is not sufficient to address two important...

This paper investigates changes in the use of generic skills in Britain's workplaces, and examines which generic skills may be having an impact on wages over and above traditional human capital indicators such as education and work experience. We use instruments borrowed and adapted from...