The question of pricing and hedging a given contingent claim has a unique solution in a complete market framework. When some incompleteness is introduced, the problem becomes however more difficult. Several approaches have been adopted in the literature to provide a satisfactory answer to this...

The paper aims to highlight some of the most important implementation issues associated with the greening of global value chains with special attention given to how public policies and business strategies can support each other in meeting the challenge, particularly in developing countries. This...

This paper considers the environmental policy and welfare implications of a merger between environment firms (i.e., firms managing environmental resources or supplying pollution abatement goods and services). The traditional analysis of mergers in Cournot oligopolies is extended in two ways....

In multiple-task agency setups it is commonly accepted that wage incentives must be weaker when the agent's performance on some of the activities is difficult to measure. This article shows that stronger incentives can be restored through a scheme of selective audits in which the appraisal of...