In this paper, we investigate how investors who face both equity risk and credit risk would optimally allocate their financial wealth in a dynamic continuous-time setup. We model credit risk through the defaultable zero-coupon bond and solve the dynamics of its price after pricing it. Using...

This paper investigates how investors who face both market risk (interest rate risk) and credit risk in addition to equity risk would optimally allocate their financial wealth in a dynamic, no arbitrage, continuous-time setup. I model credit risk through a defaultable zero-coupon bond and solve...

Nuclear meltdown in Japan and civil society strife across the Middle East highlight the degree to which resilience is core to international peace and security. This article considers the means by which communities can become increasingly resilient through shared best practices across a range of...

Public participation ranging from information sharing to decision-making remains central to equitable and effective water management. Involving directly and indirectly affected individuals in decision-making facilitates trust and can establish partnerships. It also helps ensure that vital...

This article analyzes how cooperative federalism and inclusive decision-making can provide legitimacy and transparency when balancing property rights versus police powers to regulate natural gas production

This Article considers the advantages and disadvantages of market-based program design, natural gas regulation, and enhanced international understanding. Transitioning to a green economy involves dedicating efforts towards environmentally sound energy innovation. RGGI, natural gas, and climate...

Climate resilient communities can be achieved with the support of global research, development, deployment, and diffusion of environmentally sound low GHG emission technologies and processes. Technology cooperation should lower emissions remaining mindful of biodiversity, ecosystem services and...

The World Economic Forum recognizes that while restrictions on energy affect water systems and vise versa, energy and water policy are rarely coordinated. The International Panel on Climate Change predicts that wet places will become wetter and dry places will become dryer. Transboundary water,...

Climate cooperation increasingly looks like individuals reaching out beyond traditional interactions to expand new networks, work with others to spot patterns, and take initiative to learn new complex systems; adapt these shared insights into new solutions; develop empathy, patience, and...