This review critically looks at the theoretical and empirical foundations of positive mathematical programming and its evolution in the past decade or so. We show how the need to model new empirical phenomena has induced the literature to rethink model specifications and to address new questions...

We examine the effect of the introduction of uniform water-charging for aquifer management and provide evidence using a survey-based choice experiment of agricultural water users in rural Tunisia. Theoretically, we show that the implementation of the proposed second-best regulation would result...

La multifuncionalidad agraria es el reconocimiento del ejercicio conjunto por parte de este sector de funciones económicas, ambientales y sociales. Sin embargo, no todas estas aportaciones al conjunto de sociedad son valoradas en los mercados, sino que buena parte de ellas son bienes públicos....

A szerzők egy valószínűsíthető piaci földár meghatározására dolgoztak ki a gyakorlatban is jól használható értékelési módszert. Szerintük a föld valószínűsíthető jövőbeli ára két tényező összegeként értelmezhető: egyrészt a várható földjövedelemnek...

Corn prices increased sharply in the summer of 2012 due to expected production shortfalls in the United States, which produces roughly 40% of the world's corn. A heat wave in July adversely affected corn production. We extend earlier statistical models of county-level corn yields in the Eastern...

The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off between interest rates on the one hand and market participants'...

When food prices spike in countries with large numbers of poor people, hunger and malnutrition are very likely to result in the absence of public intervention. For governments, this is also a case of political survival. Government actions often take the form of direct interventions in the market...