The paper shows that explicit modelling of sunk cost and a firm’s entry-exit decision in a traditional deterministic investment model may give an explanation of the slow transition to the optimal fleet structure following the introduction of individual transferable quotas (ITQs). The analysis...

Developments starting with activation reforms in the 1990s and speeded up during the last 10 years form part of a double farewell to the Danish welfare model. The benefits system has been reformed with the introduction of stricter eligibility criteria, sanctions, shorter benefit periods, and...

Performing the bioethanol production process at high solids loading is a requirement for economic feasibility at industrial scale. So far this has successfully been achieved using wheat straw and other agricultural residues at 30% of water insoluble solids (WIS), but for softwood species (i.e....