This paper considers optimal investment behaviour when investment options evolve deterministically or stochastically over time and investments are irreversible and indivisible. It extends the standard investment-under-uncertainty set-up with a single investment option to the case of repeated...

In Denmark, many small-scale forest owners are affiliated to local district offices of The Danish Forestry Extension Service. Increasing economic pressure has caused a search for more efficiency in the Service, including potential reorganisation. In this paper, the efficiency of the different...

A political decision to establish the first ever national parks in Denmark allowed us to examine if people hold preferences regarding which site to be designated as national park, separate from the preferences for its environmental functions. To this end, we designed a choice experiment...