Improving our ability to cope with floods under current and future climates requires adopting a more sophisticated set of techniques -- the "soft path" of flood risk management, which aims to understand, adapt to and work with the forces of nature. The report gives an in-depth look at the flaws...

As a modern shape of tourism, the ecotourism fallows to observe and admire the natural environmental elements, in such a manner that assures the conditions of protection and preservation of nature. On the Black Sea Coast, the marine ecotourism can involves activities like: watching animals and...

We document widespread violations of stochastic dominance by one-month S&P 500 index call options market over 1986-2006. These violations imply that a trader can improve her expected utility by engaging in a zero-net-cost trade. We allow the market to be incomplete and also imperfect by...

Careless coastal development is threatening a bulwark of New England’s economy and quality of life. The authors offer 30 years of research on techniques for permitting change without doing harm.

Regional estimates of direct cost (DC) are commonly used to measure the economic damages of sea level rise. Such estimates suffer from three limitations:(i) values of threatened endowments are not well known, (ii) loss of endowments does not affect consumer prices, and (iii) international trade...