A real option analysis of dry-grind corn ethanol plants compared to a standard net present value analysis (NPV) shows that the option values increase entry prices and lower exit prices of investment and disinvestment considerably. For a large plant, the gross margin of ethanol price over the...

Red Seabream is a valuable fish resource for ports in Southern Spain. It is critical that this fishery be well managed to ensure a sustainable and viable commercial fishery into the future, which recent fishing regulations should accomplish. Fish stocks appear to be increasing. We use Data...

The emergence of biofuels has led to an increase in crop price and subsequently global food prices but the extent of the impact is subject to debate. Fully understanding the role of biofuels on agricultural markets requires properly accounting for the response of all affected inputs and outputs....

In a departure from past contingent valuation research of groundwater quality, this paper estimates a damage function for nitrate exposures based on actual water test results of individual wells. From the perspective of reliability, it is argued that such a full information approach more closely...

Geologic estimates of remaining global petroleum resources place about 50% in the Persian Gulf. Production costs are estimated at $5 per barrel there, and $15 per barrel in the North Sea and Alaska. Using mathematical methods derived from depletion theory is utilized to explain the $15-$20 per...

Corn ethanol plants consume large amounts of corn and their location has the potential to alter local crop prices and surrounding agricultural land values. The relationship between ethanol plant location and agricultural land prices is examined using data obtained from the Agricultural Credit...

Recent studies that compare the efficiency and distributional impacts of alternative instruments to curb sprawl typically ignore what to do with the revenues from anti-sprawl policies, such as development taxes. This paper extends first-best analysis of development taxes aimed at preserving land...