When demand for a good exceeds its supply, queuing mechanisms are commonly used to allocate the good in question to citizens. However, very long queues result in excessive wait times and this can lead to violence. As such, the purpose of this paper is to analyze two stochastic models of goods...

In order to minimize the risk of biological invasions in a country called Home, a seaport manager must inspect a certain number of arriving ships successfully in a time period of interest. Given that inspections are costly, how should our seaport manager, interested in minimizing the total...

In order to minimize the risk of biological invasions in a country called Home, a seaport manager must inspect a certain number of arriving ships successfully in a time period of interest. Given that inspections are costly, how should our seaport manager, interested in minimizing the total...

This paper discusses algal blooms in waterways from an externality perspective. Algal activity is directly related to phosphorus intake, but this can vary by season and by degree of dilution. Policy alternatives, including property rights, taxes, tradeable permits and water pricing are...

This paper provides a review of research contributions on forest management and planning using multi-criteria decision making (MCDM) based on an exhaustive literature survey. The review primarily focuses on the application aspects highlighting theoretical underpinnings and controversies. It also...

Sustainable development has (SD) been an important objective promoted by many development economists during the last few decades. However, the implementation of sustainable development has been a problem since adequate guidelines are not available. This is specially so in the use of...

Many countries in Asia, Africa and Latin America have turned over irrigation systems to farmer groups. There is general consensus that neoclassical economics has failed to address many issues in irrigation water management. Institutional issues have been at the heart of some of these failures....