This article explores adaptive management (AM) for decision-making under environmental uncertainty. In the context of targeting invasive species inspections of agricultural imports, I find that risk aversion increases the relative value of AM and can increase the rate of exploratory action....

For reducing greenhouse gas emissions, intensity targets are attracting interest as a flexible mechanism that would better allow for economic growth than emissions caps. For the same expected emissions, however, the economic responses to unexpected productivity shocks differ. Using a real...

For reducing greenhouse gas emissions, intensity targets are attracting interest as a flexible mechanism that would better allow for economic growth than emissions caps. For the same expected emissions, however, the economic responses to unexpected productivity shocks differ. Using a real...

Capital controls can induce large and persistent deviations from the Law of One Price for cross-listed stocks in international capital markets. A considerable literature has explored firm-specific factors which influence ADR pricing when LOP is violated. In this paper, we examine the...

Capital controls can induce large and persistent deviations from the Law of One Price for cross-listed stocks in international capital markets. A considerable literature has explored rm-specic factors which in uence ADR pricing when LOP is violated. In this paper, we examine the interlinkages...

2009 lief die Milchkontingentierung in der Schweiz aus. Im Jahr 2015 wird dies auch in der EU geschehen. Diese bedeutenden Einschnitte in die politischen Rahmenbedingungen der Milchwirtschaft erfordern in beiden Ländern veränderte Formen der Zusammenarbeit zwischen landwirtschaftlichen...

A recent highly cited paper from this journal develops a model predicting maximum sustainable yield (<InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$MSY$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mi mathvariant="italic">MSY</mi> </mrow> </math> </EquationSource> </InlineEquation>) of a fishery using the historical maximum catch (<InlineEquation ID="IEq2"> <EquationSource Format="TEX">$$MaxCatch$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mi mathvariant="italic">MaxCatch</mi> </mrow> </math> </EquationSource> </InlineEquation>). The model is parameterized with a small sample of fisheries from the United States, and is...</equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation>

In this paper we report the results of the only field test of which we are aware that uses randomized trials to measure whether stricter enforcement and verification of work search behavior alone decreases unemployment claims and benefits paid in the U.S. unemployment insurance (UI) program....

This paper produces the first large-scale estimates of the US health related welfare costs due to climate change. Using the presumably random year-to-year variation in temperature and two state of the art climate models, the analysis suggests that under a "business as usual" scenario, climate...