In this paper we are investigating how production risk may influence the way a risk averse producer like a subsistence farmer chooses optimal input levels. Risk averse producers will take into account both the mean and the variance of output, and therefore we expect them to choose input levels...

Travel cost is a barrier for many tourists who wish to visit faraway destinations. This affects exotic tourism destinations located far from key markets since it the great majority of travelers from these markets will find travel cost prohibitively high. However, exotic tourism destinations...

Productivity growth and competitiveness indicate that salmon supplyis price responsive. However, in the short run supply is likely to be constrainedby the biological production process, regulations, and capacity constraints. Inthis article, we estimate a restricted profit function for Norwegian...

A frequently encountered problem in import demand estimation is how to account for competition between imports and domestic production. Traditionally, use of the Armington model has been a way to handle this problem. This is a disaggregate model which distinguishes commodities by country of...