This paper provides a short introduction to the economic history of Hawai'i since 1778. References are provided for readers with interests in particular topics.

Coastal nations can impose conditions of use on foreign fishing firms that operate in their Exclusive Economic Zone. We develop a game-theoretical model in which a fishery owner maximizes the revenue that it collects from firms that operate in its EEZ by charging them a fishing fee. We find that...

I found that the University has experienced modest grade inflation over the past twelve years but the rate of inflation has been considerably low relative to other universities. In addition, I failed to find clear evidence of a widening interdepartmental gap, which is often referred to as being...

The Hawaiian Home Lands program enacted by the U.S. Congress in 1921 placed 200,000 acres of government land in trust for the use of native Hawaiians. This program - now with assets valued at well over $700 million - long ago evolved into a special type of public housing program in which the...

This paper examines the rationality and diversity of industry-level forecasts of the yen-dollar exchange rate collected by the Japan Center for International Finance. In several ways we update and extend the seminal work by Ito (1990). We compare three specifications for testing rationality: the...

This paper views cigarette taxation as a correction for health insurance distortions (an efficiency tax). The theoretical framework utilizes an individual expected utility maximizing consumer-optimal social planner model. From the model an optimal tax formula is derived. There are two main...

In the mid 1960s there were about 22,000 single-family leasehold homes in Honolulu. Dissatisfaction with leasehold led to reform legislation in 1967, allowing lessees to buy leased land. By 1991 less than 5000 lessees remained. This paper examines why landowners elected to lease rather than sell...