We consider Arrow's model for an economy engaged in consuming a randomly distributed natural resource, and in exploring previously unexplored land to find more of the resource. After modifying the model so that each discovery reveals a random amount of the resource, we use dynamic programming...

The purpose of this dissertation is to investigate dual approaches to corner solutions that are both tractable and flexible in recreation demand. Two structural models are estimated using data from the Iowa wetlands survey in the incomplete demand system context. This dissertation expands...

A recombinant strain of <i>Escherichia coli</i> FBWHR was used for ethanol fermentation from hot-water sugar maple wood extract hydrolyzate in batch experiments. Kinetic studies of cell growth, sugar utilization and ethanol production were investigated at different initial total sugar concentrations of...

The Earned Income Tax Credit (EITC) is the largest anti-poverty program in the U.S. In 1993, the EITC benefit levels were changed significantly based on the number of children in the family such that families with two or more children experienced an exogenous expansion in their incomes. Using...

The behavior of institutional investors often deviates from established personal or social norms; this deviation may reflect either an informational advantage or a psychological bias. In this paper, we investigate the reasons Chinese mutual funds hold lottery-type stocks, which are characterized...

Using data from the National Income Dynamics Study, we document differentials in both underweight and obesity across race and gender in post-Apartheid South Africa. Using a nonlinear decomposition method, we decompose these differences across gender within race and then across race within...

This article empirically examines the causal effect of railway infrastructure on local economic development using the construction of Qingzang railway as a natural experiment. We apply the difference-in-difference method and find that the Qingzang railway significantly stimulated the economy of...

We set up a dynamic discrete choice model with subjective expectations data to explain adult smokers' find important differences between subjective survival probabilities and those estimated using observed mortality data. Subjectively, individuals attach less weight to their health conditions...

Recent built low energy school buildings have adopted a novel heat recovery heat pump and classroom ventilation system. School building energy conservation performance and classroom air quality enhancement will be simultaneously investigated in the present work. Heat recovery efficiency of the...