In this paper, we propose to use the Monte-Carlo (MC) test technique to obtain valid p-values when investigating the presence of discontinuities in jump-diffusion models. Indeed, the LR statistic used to test for discontinuities has typically a complex non-standard distribution, for at least two...

Using real options, we consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We apply our model to Hydro-Québec's proposal to build a 1,250 megawatts interconnection with Ontario. We find...

We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro-Québec's...

We examine the diffusion of sustainable planning and design concepts into neighbourhood development projects, based on findings of a survey of planners in all 180 cities of five Southern California counties. Sustainable neighbourhood development has particular significance in Southern California...

Romania was one of the first transition countries in Europe to introduce auctions for allocating standing timber (stumpage) in public forests. In comparison with the former system in the country-administrative allocation at set prices-timber auctions offer several potential advantages: greater...

Models use for natural resources prices usually preclude the possibility of large changes (jumps) resulting from discrete, unexpected events. To test for the presence of jumps and ARCH effects, we propose to use bounds and bootstrap test techniques, thus solving the unidentified nuisance...

We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro Québec's...

This paper explores quantitatively Californians' interest in hybrid electric vehicles (HEV) based on a statewide phone survey conducted in July 2004 by the Public Policy Institute of California. The paper develops ordered choice models and factors that summarise beliefs about energy and the...

This paper relies on a unique dataset collected during a national survey of US households to explore how different sources of information (print, television, radio, family/friends, work/school and others) influence the decision to start recycling. Although print media are influential, it is...