The neoclassical paradigm has proven to be a rich approach for evaluating a variety of issues for individual and social decision-making. However, an increasing body of literature suggests that actual behavior systematically violates the neoclassical utility model. This paper reviews a number of...

Sound energy and environmental policies require reliable forecasts of production and pollution, as well as supply response to policy actions. In this study, we describe a model for forecasting long-term production and pollution in the offshore oil and gas industry in the Gulf of Mexico under...

Because of the extreme uncertainty in fisheries biology, efforts to determine a stock-recruitment relationship have not been entirely successful. In the face of this certainty, this paper argues for a change in focus for fisheries economics from bioeconomic optimization toward goals whichare...

Stated preference analyses commonly impose strong and unrealistic assumptions in response to spatial welfare heterogeneity. These include spatial homogeneity or continuous distance decay. Despite their ubiquity in the valuation literature, global assumptions such as these have been increasingly...

Although mixed logit models are common in stated preference applications, resulting welfare estimates can be sensitive to minor changes in specification. This can be of critical relevance for policy and welfare analysis, particularly if policymakers are unaware of practical implications. Drawing...