The link between natural resource dependence and internal conflict has been approached from a variety of angles in a large and growing interdisciplinary literature. While there is an expanding consensus as to what matters the most for such intra-state violence episodes, the feasibility -...

Industrial pollution often exerts negative spillovers on resource-based productive sectors. International trade creates conditions for the overexploitation of an open-access renewable resource, but also provides opportunities for separating the productive sectors spatially. The existing...

In this paper I demonstrate the existence an initial incomplete contract that can subsequently be renegociated to the set of first best allocations in a fairly geneal principal-agent model when the state space is continuous.

We apply locus of control specifically to consumer decisions. To do so, a measurement device, the Consumer Locus Of Control (CLOC) id constructed and tested.

This paper analyses the optimal decision of a firm faced with the option of retrofitting its plant to reduce pollution and thereby eliminate the need to purchase emissions allowances. The decision is treated as a real option with the price of pollution permits assumed to follow a known...

Estimating the efficacy of seat belt use is important as compensating risk-taking or "offsetting behaviour" by drivers may attenuate benefits from vehicle safety regulation. However, evidence on partial-offsetting behaviour from previous studies may simply reflect simultaneity bias, as...

This paper extends the literature on optimal tree harvesting assuming stochastic prices. With volatile prices, the value of a stand of trees is increased when harvesting dates are flexible, depending on wood volume and product prices of the day. Flexibility adds value because a forest owner can...

This paper investigates a regime switching model of stochastic lumber prices in the context of an optimal tree harvesting problem. Using lumber derivatives prices, two lumber price models are calibrated: a regime switching model and a single regime model. In the regime switching model, the...

This paper explores the link between technological change and the dynamics of the earnings distribution and production. Technological change not only advances society's collective capability but also changes the relative productivities of its members. This latter effect establishes the likely...