We propose and develop a new framework for studying the problem of preventing biological invasions caused by ships transporting internationally traded goods between countries and continents. In particular, we apply the methods of queuing theory to analyze the problem of preventing a biological...

The quasi-option value (QOV) literature originated by Arrow and Fisher (1974) and by Henry (1974) is largely concerned with the analysis of two-period models of land development. Our paper extends this literature by analyzing two scenarios in which the decision to develop land is made in a...

The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many papers that analyze...