We present a theoretical dynamic model in tourism economics, assuming that the market for tourism is an oligopoly with differentiated products. Destinations can invest in order to improve their stock of physical, natural or cultural resources. Tourism flows yield current revenues, but they are...

In a discrete setting, a model is developed for pricing a contingent claim in incomplete markets. Since hedging opportunities influence the price of a contingent claim, the optimal hedging strategy is first introduced assuming that a contingent claim has been issued: a strategy implemented by...

In a discrete setting, we develop a model for pricing a contingent claim. Since the presence of hedging opportunities influences the price of a contingent claim, first we introduce the optimal hedging strategy assuming a contingent claim has been issued: a strategy implemented by investing the...

This paper illustrates, both theoretically and empirically, the determinants of seller bidding at auctions. Based on search theoretical considerations, seller bids are explained as the seller’s rejection of submitted price offers that fall short of his reservation price. The search model...

Introducing a finite reservation price in Hotelling’s spatial duopoly with linear transportation costs shows that (i) there dose not exist a pure strategy symmetric location equilibrium of the reservation price is 'high’, (ii) there exists a unique pure strategy symmetric location...

An integrated thinning and final harvesting strategy for even-aged stand under conditions of uncertainty in future timber prices is developed. This strategy consists of two parts: a feedback stocking-level control function that guides the choice of thinning intensities at different ages, and a...

Previous studies have reported significant gains from adaptive harvest strategies when future timber prices are uncertain. For the final harvest decision in even-aged stand management, the adaptive strategy typically means that a stand is harvested only when the timber price is high, whereas low...

In an effort to increase wood production and mitigate environmental problems, agro-forestry practices have emerged as a viable strategy in the Northern Plains of China, where one popular form of the agro-forestry system consists of fast-growing and high-yield plantation of poplar (populus) trees...

Online retailing provides an opportunity for new pricing options that are not feasible in traditional retail settings. This paper proposes an interactive, dynamic pricing strategy from the perspective of customized bundling to derive savings for customers while maximizing profits for electronic...

Despite the importance of its ecosystem and being an environmental preservation area, the São José Environmental Protection Area (EPA) in the State of Minas Gerais has shown deterioration in recent years. Because of this, public policy becomes relevant to São José EPA´s conservation....