This paper analyzes the impact of model complexity on the net present value distribution and the expected default probability of equity investments in project finance. Model complexity is analyzed along two dimensions: simulation complexity and forecast complexity. We aim to identify model...

Development of infrastructure projects with private engagement through PPP has become one of the commonly adopted procurement strategies in developed and developing countries. All over the world where PPP procurement has been used in one form or another, the way in which it is carried out has...

Ecosystem externalities arise when one use of an ecosystem affects its other uses through the production functions of the ecosystem.We use simulations from a size-spectrum ecosystem model to investigate the ecosystem externality created by fishing of multiple species. The model is based upon...

The mixed-demand model allows for very flexible specification of what should be considered endogenous and exogenous in demand system estimation. This paper introduces a revealed preference framework to analyze the mixed-demand model. The proposed methods can be used to test whether observed data...

In this paper we discuss how a Decision Support System (DSS) for managing the marine environment can be set up. We use the Driving force-Pressure-State-Impact-Respond (DPSIR) framework to analyze which are the major driving forces impacting upon the marine environment in the North Sea. Moreover,...

In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on the basis of biological considerations, usually on a species by species basis. An implicit assumption of management is that fishers are able to adjust their product mix in line...

This paper deals with risk and uncertainties that are an inherent part of designing and implementing fisheries rebuilding plans. Such risk and uncertainties stem from a variety of sources, biological, economic and/or political factors, and are influenced by external factors like changing...

Production condition and behavioural reactions have traditionally been modelled in unregulated industries. The paper examines the impact that output regulation will have in an industry of multiple outputs where production of regulated and unregulated outputs are combined. The industry's respond...

A purpose of this paper is to give a critical review of the total allowable catch (TAC) policy within the European Union (the EU) for cod in the North Sea. The actual TACs are compared with the biological recommendations about the TAC and the bio-economic optimal TAC. It is shown that the actual...