Mexico has reported workers remittances to equal $16.6 billion in 2004, which constitutes nearly 2.5 percent of Mexicos GDP, exceeding the inflows from direct foreign investment and aid. We develop a model of remittances based on a net income concept. The model is used to generate a series of...

This article examines the effect of the Renewable Fuel Standards (RFS) and market power on the growth potential of the cellulosic biofuel sector. We develop a general equilibrium model to show how changes in the regulations governing cellulosic fuel production affect the equilibrium quantity of...

Prescribed fire is a useful but risky method for reducing general wildfire risk and improving wildlife habitat, biodiversity, timber growth, and agricultural forage. In the past the fifteen years, laws is some states have been adopted to support the use of prescribed fire. This article examines...

Short-term contracts provide weak incentives for durable input investment if post-contract asset transfer is difficult. Our model shows that when both agents provide inputs, optimal contract length balances weak incentives of one agent against the other. This perspective broadens the existing...

This paper characterizes a set of Nash equilibria in a first-price sealed-bid auction with the right of first refusal using two bidders and asymmetric information regarding the bidders’ value distributions. The equilibria for multiple bidders and a more general value distribution are also...

Scientists and policymakers are increasingly aware that wildfire management efforts should be broadened beyond the century-long emphasis on suppression to include more effective efforts at fuel management. Because wildfire risks change over time as vegetation matures, fuel management can be...

We develop a household model of migrant remittance that supports testable hypotheses about the effect of migrant income, family composition and distribution, transaction costs associated with remittance mode, income and residence security, and other household characteristics on remittance levels...

A structural inter-temporal model of agricultural asset arbitrage equilibrium is developed and applied to agriculture in the North-Central region of the U.S. The data is consistent with a unifying level of risk aversion. The levels of risk aversion are more plausible than previous estimates for...