Promoters of individual transferable quota (ITQ) management regimes have often held out the prospect that such regimes generally will offer superior performance over alternative fisheries managements systems. My purpose in this paper is to challenge the notion of ITQ superiority in an important...

The paper derives and tests maximum likelihood parameter estimators for symmetrically correlated Weiner processes observed at discrete intervals. Such processes are arise when pricing and determining Value-at-Risk for portfolio derivatives. Cases of driftless and mean-reverting state variables...

By deriving the implied dividend growth rate from earnings growth rates, the method of Donaldson and Kamstra [1996] is extended to provide formal fundamentals valuation fo firms that pay out no dividends. No previous work known to me has succeeded in providing formal fundamentals valuation for...

This paper investigates the linkages between the trade sector and the manufacturing sector as a possible source of complementarities generating cumulative processes and apparent increasing returns in manufacturing firms.

The Abstract of your paper: This paper criticises three Robbinsian positions still often found in modern economics: (1) the methodology of intuitively obvious assumptions; (2) treating facts as illustrations rather than as tests of theoretical propositions; (3) assuming that theory provides...

The objective of this paper is to present an analytical description and classification of observable impacts that individual quota (IQ) regimes may have on social conditions affecting fishers and fiching communities.

This paper investigates the ex post rational price of Shiller (1981) to determine if it is a reliable guide to fundamental valuations of dividend-yielding assets. The ex post rational price is widely used to determine whether stock market price movements are rational responses to market news or...