The EU is the third largest regional export market for US agricultural products, with over $6 billion in annual sales. In principle, EU environmental policies designed to control domestic externalities could alter US agricultural exports to the EU. This paper develops a range of theoretically...

Technical change is dynamic, recursive, and endogenous to the economic system. However, empirical studies usually treat technology as exogenous, defining technical change in terms of its end result changes in some production possibilities set. An endogenous view of technical change is necessary...

Intertemporal duality can be used for empirical research to derive a system of optimal choice functions (dynamic factor demands and output supplies) consistent with an explicity dynamic optimization framework While the literature on intertemporal duality focuses on infinite-horizon autonomous...

A wide range of problems in economics, agriculture, and natural resource management have been analyzed using continuous-time optimal control models, where the state variables change over time in a stochastic manner. Using a firm-level investment model and a model of environmental degradation,...