The aim of this paper is to provide some practical aspects of point and interval estimates of the global maximum of a function using extreme value theory. Consider a real-valued function f:D→ defined on a bounded interval D such that f is either not known analytically or is known...

Confidence limits for the reliability of series systems based on binomial component data are discussed. Several examples are given which show that Buehler optimal confidence bounds can increase in length with an increasing point estimate of reliability, a counter-intuitive result.

The contingent valuation method estimates individuals' willingness to pay (WTP) for nonmarket environmental assets via preferences elicited by either open-ended or dichotomous choice questions. Traditional analysis of such data has tended to ignore zero WTP values, or treat then in a...

The paper examines monetary valuations of lost passive-use benefits associated with damage to a unique environmental resource a national park, elicited through contingent valuation, and compares them with actual donations to the same end, where the latter are interpreted as a quasi-market...