The importance of natural capital to economic systems is increasingly recognized. Previous empirical models of economic growth rates, however, have emphasized accumulation of physical and human capital. This paper shows that the economic growth of over 70 countries has been positively affected...

This paper explores an optimal sharing contract between a grape grower and a winery, when a risk-averse grower allocates efforts among multiple activities that differe in measurability, while double-sided moral hazard is assumed to be present. The contract allows for asymmetric quality...

Following the May 2003 Canadian BSE case, food safety issues have become even more prominent to policymakers and consumers. In both Canada and the US, governments and industry have responded with a variety of quality assurance, traceability and labeling schemes. However, there is little...

This paper examines alternative risk management strategies in terms of their effectiveness for three representative Alberta farm operations. Stochastic dynamic simulation methods are used to model financial performance for these farms, and alternative risk management programs are compared in...