In contemporary times, a considerable amount of concern has been expressed about the diminution in the USA's old growth forests. There is general agreement among scholars that old growth forests provide amenity services and timber, and that forest harvesting decisions are fundamentally...

Rising interest in sustainable natural resource use and the increasingly disputatious nature of the interactions between developers and preservationists have led to great interest in the topic of apposite natural resource management. This paper considers the question of land development and...

Herding is an integral part of ranch operations in contemporary times. An aspect of herding that has received scant attention in the literature concerns the pros and cons of searching for livestock animals that have wandered away from a pasture and are hence missing from this pasture. Under what...

This paper provides a theoretical analysis of the effects of temporal controls on the stochastic behavior of renewable natural resources such as fisheries and rangelands. First, we show that temporal resource management is characterized by the existence of a threshold effect. Second, we point...

A fundamental objective of rangeland managers all over the world is to take measures to ensure that the rangeland being managed stays away from irreversible states in which it provides little or no consumptive and non-consumptive services to humans. Nevertheless, despite a manager's best...

In recent times, ecologists and economists have drawn attention to the fact that rangelands ought to be viewed and studied as jointly determined ecological-economic systems. However, because this observation has been rather recent, a number of theoretical issues in range management remain poorly...

We use a theoretical political-economy model with three cities and analyze three questions. First, should police in these cities have access to contentious crime fighting technologies such as facial recognition software? We describe a condition involving benefit, cost, and spatial spillover...

We analyze a stylized creative region’s economy. There are two goods (consumption and creative capital) and creative class members differ in their income generating abilities. The distribution of abilities in the creative class population is such that the median ability is less than the...

Goods for which demand greatly exceeds supply are frequently allocated to citizens using queuing mechanisms. However, violence can occur either when queues are very long or when large numbers of citizens are not provided goods being allocated with queuing mechanisms. Hence, we use the theory of...

We study a regional economy with a large number of entrepreneurs who own firms and who want to go public. Specifically, our analysis focuses on the contractual interaction between a representative risk averse entrepreneur who owns a firm and a risk neutral monopolistic investment bank that...