Unlike many other vintage goods, distilleries often opt to mature their stocks to different ages, selling a heterogeneous line of products which vary in quality. We develop a theoretical model to examine the maturation decisions of a whisky distillery and find that it is possible for a...

Using a comprehensive dataset covering most derivatives trades reported to US exchanges since 1954, we present distributional estimates of the rate at which derivative trading volumes rise and fall. Our results suggest that the lifecycle of cleared derivatives changed fundamentally in the...

Many incentives at the state and federal level exist for household adoption of re- newable energy like solar photovoltaic (PV) panels. Although incentives make solar panels an attractive investment from a net present value perspective, the adoption rate is low, suggesting that households are...

Integrating the concerns of stakeholders into the decision process can be particularly important when adopting a new technology. Radio Frequency Identification (RFID) offers many potential benefits to the healthcare industry. However, hospital administrators who are examining this technology may...

In 1999 the Canadian Federal government passed the First Nations Land Management Act, ratifying the Framework Agreement on First Nation Land Management signed by the government and 14 original signatory First Nations in 1996. This Agreement allows First Nations to opt out of the 34 land code...

This paper uses stated and revealed preference data from a choice-based conjoint survey instrument to estimate willingness to pay for distance-based local food products. The survey was administered to three different groups of respondents: members of a consumer buying club, a random sample of...

Despite declines in US smoking rates tobacco remains among the leading causes of preventable deaths in the US and is directly linked to chronic and mortal diseases including cancers and heart disease. With a focus on youth smoking behaviors, this paper considers contributory influences for two...

Many previous studies provide pricing models of options on futures spreads. However, none of them fully reflect the economic reality that spreads can stay near full carry for long periods of time. We suggest a new option pricing model that assumes that convenience yield follows arithmetic...