The optimal reaction to a pending climate catastrophe is to accumulate capital to be better prepared for the disaster and levy a carbon tax to reduce the risk of the hazard by curbing global warming. The optimal carbon tax consists of the present value of marginal damages, the non-marginal...

The global response to a catastrophic shock to productivity which becomes more imminent with global warming is to have carbon taxes to curb the risk of a calamity and to accumulate precautionary capital to facilitate smoothing of consumption.  Our multi-region model of growth and climate change...

This paper investigates how managerial capacity aspects influence efficiency of dairy farms in Sweden. Based on non-parametric methods, Tobit and logistic regressions, several managerial capacity aspects are found to influence long and short run input efficiency scores, but to influence output...

Participation rates for farm women in off-farm labor markets continue to increase, as does their participation in making major farm decisions such as whether to buy or sell land, adopt a new production practice or invest in farm equipment. Data from the Survey of U.S. Farm Women conducted in...

The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision...

Voters today often desert a preferred candidate for a more viable second choice to avoid wasting their vote. Likewise, parties to a dispute often find themselves unable to agree on a fair division of contested goods. In <i>Mathematics and Democracy</i>, Steven Brams, a leading authority in the use of...