"This paper presents a dynamic model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations are derived when pension fund management maximize the utility of wealth of a representative taxpayer or when pension fund management maximize their own utility of compensation....

The value of a representative ethanol producer that benefits from both low and high gasoline prices is modeled. Ethanol producers make a modest competitive profit in the mandate-induced region of production. A low price of gasoline increases the demand for blend ethanol and consequently...

Biofuels have been evaluated based on their greenhouse gas emissions, costs, and potential scale of production. Here we propose that feedstock supply risks should be added to the list of key metrics for evaluating the performance and scalability potential of transportation biofuels. Biofuels...

This paper extends existing asset pricing models by differentiating between the storable and non-storable components of aggregate consumption and by introducing a commodity storage technology to the economy. I use this extended model to elaborate the interactions between long-run consumption...

This paper examines the effect of technological uncertainty on the optimal pricing and investment decisions in a two-sided market. A platform offers a basic good and a developer offers a complementary good. The performance of the complementary good is stochastic and is endogenously determined by...