In this article, intraseasonal fishing is modeled as a differential game between fishers in a total allowable catch (TAC)–regulated fishery with and without individual fishing quotas (IFQs). Heterogeneous harvest values are included by incorporating time-specific harvest costs and a...

This paper addresses the question of what it takes to obtain a well-defined extensive form game. Without relying on simplifying finiteness or discreteness assumptions, we characterize the class of game trees for which all pure strategy combinations induce unique outcomes. The generality of the...

This dissertation consists of three chapters on the topic of differential games and resource economics. The first chapter extends the envelope theorem to the class of discounted infinite horizon differential games that posses locally differentiable Nash equilibria. The theorems cover both the...

We study how restricting CO2 emissions affects resource prices and depletion over time. We use a Hotelling-style model with two non-renewable fossil fuels that differ in their carbon content (e.g. coal and natural gas) and in addition are imperfect substitutes in final good production. We show...

This paper highlights several management practices from the oil and gas industry to support the proposition that financial performance in the finite, non-renewable resource business relates more to upstream rather than downstream activities. Based on the analysis of nine oil and gas companies,...

Exact optimal paths are calculated for two closed, continuous-time economies with explicit functional forms for utility from consumption, and for production from human-made capital and a non-renewable resource. Features of the first economy are non-linear utility, hyperbolic utility discounting...

Currently the gold mining industry is taxed differently to other industries. It is taxed on a two-tier system. The nature of the gold mining tax formula encourages the mining of marginal gold ores. Firms that are involved in the mining of gold are subjected to a "tax tunnel", which is a tax free...

The research presented in this thesis addresses different aspects of dynamic portfolio construction and portfolio risk measurement. It brings the research on dynamic portfolio optimization, replicating portfolio construction, dynamic portfolio risk measurement and volatility forecast together....

A regime-switching model for analysis of market integration has been developed that incorporates rate of trade information. An application of the methods to United States–China soybean trade demonstrates that the extended trade information allows better interpretation of market conditions....

Replaced with revised version of paper 07/29/09.