We propose and develop a new framework for studying the problem of preventing biological invasions caused by ships transporting internationally traded goods between countries and continents. In particular, we apply the methods of queuing theory to analyze the problem of preventing a biological...

We first construct three measures of the expected damage from the unintentional introduction of alien species into a country called Home. We then focus on four market structures. First, perfect competition prevails in both Home and Foreign and Home is a small country. Second, the Home and the...

We first delineate a general model that accounts for the common features of sightseeing trips to city attractions and to locations such as lakes and parks. Next, we use the theory of discrete-time Markov chains (DTMCs) to formalize this general model and then we compute the one-step transition...

For a firm that provides transport to tourists/visitors and operates in a probabilistic environment, the twin issues of visitor classification and vehicle breakdowns have received scant attention in the extant literature. Therefore, we conduct a stochastic analysis of these two issues in this...

The sizeable literature on extinction in economics has paid scant attention to the problem of constructing measures of species extinction. Moreover, this literature has not studied the question of species extinction in stochastic systems that are jointly determined. Consequently, the objective...

We first review the literature relating to the protection of the modern sector in developing countries (DCs). We then discuss the connections between protection, economic dualism, and optimal environmental policy in DCs. Next, we construct an intertemporal model of the environmental policy...

Although arranged and love marriages have been around for a long time, to the best of our knowledge, there are no comparative analyses in the economics literature of the relative merits of one or the other kind of marriage. As such, the purpose of this note is to conduct a theoretical inquiry...

This paper addresses the following hitherto unstudied question in renewable resource management: How should a resource manager set the temporal control optimally for renewable resources such as rangelands and fisheries that are managed with spatial and temporal controls? We use a dynamic and...

We study two issues relating to the conduct of environmental policy in developing countries (DCs). First, when faced with a self-financing constraint, should an environmental authority (EA) raise/lower pollution taxes over time or should it run a deficit/surplus? Second, given recent findings...

Small farmers in many tropical developing countries practice swidden agriculture. A key aspect of swidden agriculture is the time period during which the land is left fallow. This paper uses a new ecological-economic approach to study the fallow period and to determine the optimal length of this...