This paper analyses the management of the Atlantic salmon stocks in the Baltic Sea through a coalition game in the partition function form. The signs of economic and biological over-exploitation of these salmon stocks over the last two decades indicate that cooperation among the harvesting...

Wild Atlantic salmon are traditionally harvested from both the sea and spawning rivers during spawning runs. From an economic point of view, the return from sport fishing in rivers is several times higher than marine ‘for meat only’ harvests. This situation calls for a side payment regime...

This paper analyses the management of the Atlantic salmon stocks in the Baltic Sea through a coalition game in the partition function form. The signs of economic and biological over-exploitation of these salmon stocks over the last two decades indicate that cooperation among the harvesting...

Cost-benefit analysis (CBA), as a distinctive tool for public investment projects evaluation laying in the portfolio of the governmental authorities, strives to replicate the market in establishing economic standards for the measurement of their success, while the government’s actions are in...

This essay argues for adopting a Christocentric vision, as opposed to the anthropocentric one, where man, with his reason and science, believes he can solve everything. But both A. Einstein and J.M. Keynes believed that the new issues (generated by the crisis) cannot be solved with the same...

By defining some behaviors as crimes, law defines incentives and protects society from direct and indirect, tangible and intangible negative impacts. Whatever the severity of the prescribed penalties for those that prevaricate, society and its institutions need to act at the level of law...

Making decisions about optimal investments in green infrastructure necessitates setting social discount rates. This paper suggests a practical way for determining the discount rate for projects or programmes in which one of the options is to maintain or restore land to an undeveloped state. We...

This paper shows that implicit assumptions about the numeraire good in the Kaldor–Hicks efficiency–equity analysis involve a “same-yardstick” fallacy (a fallacy pointed out by Paul Samuelson in another context). These results have negative implications for cost-benefit analysis, the...

Sustainable financing of the environment protection can be defined as the capacity of providing the long-term, stable and sufficient financial resources and granting them, in an adequate and rhythmic manner, in order to cover the necessary costs for protecting the environment protected areas and...