We develop a household model of migrant remittance that accounts for the effects of transaction costs on remittances. The model supports testable hypotheses about the effect on remittances of migrant income, family composition and distribution, transaction costs, income and residence security,...

Mexico has reported workers remittances to equal $16.6 billion in 2004, which constitutes nearly 2.5 percent of Mexicos GDP, exceeding the inflows from direct foreign investment and aid. We develop a model of remittances based on a net income concept. The model is used to generate a series of...

We estimate a model of suppression productivity for individual fires, where suppression productivity is measured in terms of the reduction in the estimated market value of wildfire losses. Estimation results show that at the margin, every dollar increase in suppression costs reduces resource...

This article examines the effect of the Renewable Fuel Standards (RFS) and market power on the growth potential of the cellulosic biofuel sector. We develop a general equilibrium model to show how changes in the regulations governing cellulosic fuel production affect the equilibrium quantity of...

Prescribed fire is a useful but risky method for reducing general wildfire risk and improving wildlife habitat, biodiversity, timber growth, and agricultural forage. In the past the fifteen years, laws is some states have been adopted to support the use of prescribed fire. This article examines...

This paper characterizes a set of Nash equilibria in a first-price sealed-bid repeated auction with the right of first refusal using two bidders and asymmetric information regarding the bidders' value distributions. When contract value is constant from one auction to the next and winners' values...

Short-term contracts provide weak incentives for durable input investment if post-contract asset transfer is difficult. Our model shows that when both agents provide inputs, optimal contract length balances weak incentives of one agent against the other. This perspective broadens the existing...

This paper characterizes a set of Nash equilibria in a first-price sealed-bid repeated auction with the right of first refusal using two bidders and asymmetric information regarding the bidders’ value distributions. When contract value is constant from one auction to the next and winners’...

This paper characterizes a set of Nash equilibria in a first-price sealed-bid auction with the right of first refusal using two bidders and asymmetric information regarding the bidders’ value distributions. The equilibria for multiple bidders and a more general value distribution are also...

We estimate a model of suppression productivity for individual fires, where suppression productivity is measured in terms of the reduction in the estimated market value of wildfire losses. Estimation results show that at the margin, every dollar increase in suppression costs reduces resource...