Desvousges, Mathews and Train (2015) find that their contingent valuation method (CVM) survey data does not pass the adding up test using a nonparametric estimate of mean willingness-to-pay. Their data suffers from non-monotocity, flat bid curve and fat tails problems, each of which can cause...

Catastrophic risk is currently a hotly debated topic. This paper contributes to this debate by showing two results. First it shown that the value function in dynamic optimization can have an infinite derivative at some point even if the model specification has functional forms that are finite...

Community-based watershed management has become more predominant as part of the trend towards more holistic and participatory approaches to water resources management. Locally based planning at the watershed scale is seen as an operative way to enhance long-term water resources management and...

Wuhan City is located in the central part of China, which is an import foothold of the transportation, manufacturing industry, commerce and education in China. Chinese government appointed Wuhan City as a national pilot reform area of resource-saving and environmentally friendly society at the...