In the real options approach to capital budgeting, plans that allow for flexibility in the design or timing of an investment or economic action are valuable. Real options naturally arise in decisions to develop, extract, or harvest natural resources. We (a) review the existing literature in the...

The grapevine leafroll disease (GLRD) threatens grape harvests in the United States and the world. This viral disease reduces yield, delays fruit ripening, and affects wine quality. The disease ecology is still under study and the spatial-dynamics of the spread process remains poorly understood....

We pose three Knapsack Problems (KPs) to select the rank-maximizing subset of wines subject to budget and quantity constraints. The first problem seeks the subset of wines, from a single cultivar (zinfandel) that maximizes the sum of rank subject to a budget constraint. We modify this problem by...