Disaster managers allocate resources to accomplish a set of objectives in a highly uncertain environment. The allocation decisions made throughout the course of a disaster inevitably impact final outcomes such as the damage and cost of a disaster. We develop a unique stochastic dynamic model of...

One of the benefits of biofuel use is a reduction in greenhouse gas emissions relative to fossil fuels, but no policy directly targets carbon emissions across the full spectrum of renewable and nonrenewable fuels. In light of the political unpopularity of carbon taxes in the United States, we...

The study finds that Washington State’s field corn, sugar beet and canola production could satisfy only a small percentage of the State’s annual gasoline or diesel consumption. Linear programming projections for 2008 showed a relatively close match between projected and actual production....

The rights to use publicly-managed natural resources are sometimes distributed by lottery,and typically these rights are non-transferable. Prohibition of post-lottery permit transfers discourages applicants from entering the lottery solely for protable permit sale, so only those who personally...

A lottery that provides participants the opportunity to choose among a set of simple gambles over multi-attribute goods results in an endogenous distribution of win rates over gambles that reflects tradeoffs between the relative desirability of the available goods and the probability of winning....

This paper estimates the economic value of biochar application on agricultural cropland for carbon sequestration and its soil amendment properties. In particular, we consider the carbon emissions avoided when biochar is applied to agricultural soil, instead of agricultural lime, the amount of...

Under the Clean Development Mechanism (CDM) of the Kyoto Protocol, forest projects can receive returns for carbon sequestration via two credit instruments: temporary (tCERs) or long-term certified emission reductions (lCERs). This article develops a theoretical model of optimal harvesting...

We show in this paper that instability is an intrinsic cause of production variability in a dynamic inventory system. We first show that a unique stationary optimal policy exists for both full-backlog and lost-sales case and under the policy a firm replenishes its inventory to a constant target...