In this paper, we numerically investigate energy dissipation caused by traffic in the Nagel-Schreckenberg (NaSch) model with open boundary conditions (OBC). Boundary results in excess energy dissipation. The effects of the stochastic boundary conditions on energy dissipation are discussed. The...

In this paper, we numerically study energy dissipation per unit time per car Ed in the Nagel–Schreckenberg (NS) model. Numerical results show that there is a critical density over which energy dissipation occurs, but below which no energy loss happens in the deterministic NS model. Energy...

We study the impacts of bankruptcy risk on the performance of market-based pollution control policies. In chapter one, we concentrate on emissions trading markets. We find that firms that risk bankruptcy demand more permits than if they were financially secure. Thus, bankruptcy risk in a...

This paper examines the information content of stock option exercises versus regular insider share trades by corporate executives. We argue that the asymmetric payoff structure of options makes managerial wealth - compared to holdings of shares - relatively more sensitive to stock price changes...

We analyze how choosing to use a particular type of instrument for agri-environmental payments, when these payments are constrained by the regulatory authority's budget, implies an underlying targeting criterion with respect to costs, benefits, participation, and income, and the tradeoffs among...

We develop a watershed-based model of green payments to examine how payments applied to different environmental performance measures compare on the basis of economic efficiency, equity, and environmental outcomes. We also explore how targeting in the specification of water quality goals (e.g.,...

This paper uses household data to assess the near-term impact of the program on incomes and activity choices of rural households in areas where the sandstorm control program (Beijing and Tianjin Sandstorm Source Control Program) was implemented. Central to our analysis is a unique panel survey...

This paper investigates the rapid growth of China's share in the international commodity market and the structural changes of China's commodity exports. It demonstrates a significant improvement of international competitiveness in China's manufacturing sector. The panel data analysis, based on a...

Previous studies have examined the profitability of European index options arbitrage. This paper adds to the literature by investigating the arbitrage profitability of American index options—the Nikkei 225 index futures options traded on the Singapore Stock Exchange (SGX). Using the real-time...