In this paper we are concerned with optimal investment decisions when dealing with land allocation problems. We aim to emphasise the importance of flexible modelling in order to capture irreversibility. In particular, we stretch a discrete model, firstly developed in Coggins and Ramezani...

In the domain of desertification and climate change an important amount of new knowledge and research material has been obtained from the many projects carried out in the EU-DG12 Environment and Climate programme. However, so far little effort has gone into making this scientific material...

In Capitalism, Socialism and Democracy (CSD, 1942), Schumpeter presents his paradoxical thesis that capitalism will destroy its own foundation, not by failure but by its success. He argues that the emergence of unfavourable circumstances will activate strong opposition from social critics and...

Climate change is widely recognised as a serious threat to the world's environment. The Mediterranean basin is considered as a unique scaled down model to assess the severity of potential climate change impacts on coastal zones. The paper examines the regional differences in the vulnerability of...

We extend the work on coalition formation in global pollution control by allowing for multiple coalitions. Equilibrium coalitions are derived under different

The framework of the Kyoto Protocol, an agreement for the world's rich countries to reduce their greenhouse gas emissions, is deeply flawed. This paper explains why. The Protocol lacks essential country coverage, provides an inadequate basis for allocating emission rights, lacks provision for...

This paper analyses the environmental dimensions the past accession of Greece, Portugal and Spain to the EU in order to draw lessons for the current accession of countries of Central and Eastern Europe. A distinction is made between scale, composition and technique effects. Two major conclusions...

This paper provides an economic evaluation of certification and ecolabeling as an important policy instrument for creating markets for biodiversity. In the paper we conclude that the success of a policy instrument for creating markets for biodiversity depends on the nature crucial factors,...

This paper introduces and surveys ecological-economic analysis and valuation of biodiversity. Furthermore, the notion and application of economic, monetary valuation of biodiversity is critically evaluated. A classification of biodiversity values is offered, based on a system of logical...

A new instrument for hedging weather risks has made its appearance in the financial arena. Trade in 'weather derivatives' has taken off in the US, and interest is growing elsewhere. Whilst such contracts may be simply interpreted as a new tool for solving a historical problem, the question...