This paper incorporates the concept of real option into a modified Harris–Todaro model to investigate the relationship between higher education and unemployment rates. We found that the real option value of waiting to invest in graduate school education will decrease when the expected wage...

This landmark book covers a range of issues concerning the consequences of terrorist attacks. Beginning with a discussion of new policies and strategies, it then delves into specific areas of concern, modeling a range of possible scenarios and ways to mitigate or pre-empt damages.

Lotteries can be used to meet shortages in military-manpower-demanding situations before and during a large-scale war. By developing a new lottery mechanism that is fair in that everyone has the same success rate, the approach adopted in this paper is able to outperform the traditional lottery...

One of the most important issues related to sustainability is to reduce the use of fossil fuels due to the reduction in greenhouse gases (GHG) emission. Nuclear power results in low carbon emissions and is thus important to mitigating the adverse effects of global warming and climate change....