The objective of the paper is to analyze the risk management behavior of a non-industrial private forest owner under uncertainty about the timber production. Two types of hedging strategies with harvesting decisions are studied: a financial practice versus a physical one. We develop a two-period...

This paper revisits the issue of the unilateral divorce law, taking into account that: 1. The decisions to engage in marriage and then to divorce or to stay married are fundamentally sequential decisions; 2. Household consumption has a large joint component, generating economies of scale. The...