The U.S. Forest Service and the U.S. Bureau of Land Management (BLM) control large tracts of federal public lands. Management goals for these tracts are described as ‘‘multiple-use.'' Some of the lands are forested, mountainous, contain wildlife or possess other scenic and recreational...

Every state entering the Union in the United States since 1803 received land grants from the federal government for the support of their public schools. Inherent in this federal grant is the fiduciary duty to prudently and effectively manage trust assets for the beneficiary, their school...

Every state entering the Union since 1803 received land grants from the federal government for the support of their respective public school systems. Inherent in this federal grant is the fiduciary duty to prudently and effectively manage these assets for the beneficiary, their school systems....

This article compares the attributes of a hedonic model for valuing real estate located near Jackson Hole, Wyoming with the attributes of a hedonic model for valuing agricultural property located throughout the remainder of Wyoming. It is observed that attributes affecting the value of resort...

Using a simulation approach, we analyze the effect of mean reversion on the value of capital budgeting postponement options. Two interest rate processes are compared: a pure diffusion process and a stochastic mean reversion process. The mean reverting process generates interest rate paths that...

The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 attempts to limit the risk borne by the taxpayer due to federal sponsorship of the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal National Mortgage Association by: (1) controlling their range of...