We critically review the Environmental Protection Agency's (EPA) assessment of the costs and benefits of the Renewable Fuel Standard (RFS2) as summarized in its regulatory impact analysis (RIA). We focus particularly on EPA's methods used to calculate the costs of the policy on the US fuel...

Complexity theory is receiving increasing attention in both academic and popular literature as a potential management tool. As momentum gathers surrounding its popularity in practical management, complexity theory is poised to become a management 'fad', and potentially an influential paradigm...

In Markov-switching regression models, we use Kullback-Leibler (KL) divergence between the true and candidate models to select the number of states and variables simultaneously. In applying Akaike information criterion (AIC), which is an estimate of KL divergence, we find that AIC retains too...