Public owners face a constant demand for developing new projects and for funding the renewal, maintenance and operation of existing infrastructure projects. One way to raise capitals to provide new financial resources to constrained budgets is to securitize a stream of revenue cash flows from a...

In this article we study options on a traded account. In terms of the actions available to the buyer, the options we study are more general than a class of options known as quot;passport optionsquot;; in terms of the model of the underlying asset they are more restrictive. Using probabilistic...

We develop a macroeconomic model with adverse selection. A continuum of households purchase goods from a continuum of anonymous producers. The quality of products can only be learned after trade. Adverse selection arises as low-quality goods deliver higher profits for producers but are less...

Carbon emissions, per capita carbon emissions, and carbon emissions per unit GDP are traditionally used as indicators of the real carbon emission of a region. However, input variables such as capital and labor and influential factors such as the industrial structure and regional differences are...