This chapter discusses the logic, hypotheses, empirical methods, and principal findings of the transaction-cost approach to economic organization as a foundation for analyzing the organization of agricultural transactions. In contrast to textbook characterizations of agriculture as the...

This paper discusses how information and communication technology (ICT) affects the quality and reach of consumer services. These services need to be provided locally, but consist of several components, some of which can be digitised and transmitted over long distances. A general equilibrium...

A risk-neutral agent optimizes extraction of dividends or renewable natural resources modelled by a jump-diffusion stock process, where the optimal strategy is characterized as the minimal intervention required to keep the stock process inside a given region. The introduction of a small fixed...