We examine cross-country differences in the valuation and time series characteristics of earnings to assess whether there have been systematic changes over time. Our results suggest that earnings multiples have become more similar, although systematic differences remain. Potential economic determinants (e.g., growth rates, interest rates, and returns) do not exhibit similar convergence and do n...

This paper addresses a current issue in environmental valuation, namely, the extent to which environmental preferences depart from the usual economic paradigm to incorporate some lexicographic elements. After a theoretical discussion the paper reviews attempts to explore this question empirically by supplementing contingent valuation analyses with an exploration of the motives behind willingnes...

Integrated catchment policies are widely used to manage natural resources in Australian catchments. Decision support tools available to aid integrated catchment management are often limited in their integration of environmental processes with socio-economic systems. Fully integrated models are required to support assessments of the environmental and economic trade-offs of catchment management c...

We conduct a novel meta-analysis of ecosystem service economic valuation results restricted to wetlands of the contiguous US. We focus our analysis on the estimation of benefits that wetlands contribute to water quality and flood and storm protection services. We developed a new statistical approach to enhance the accuracy and flexibility of our meta-analysis while maintaining a systematic appr...

The planner wants to give k identical, indivisible objects to the top k valuation agents at zero costs. Each agent knows her own valuation of the object and whether it is among the top k. Modify the (k + 1)st-price sealed-bid auction by introducing a small participation fee and the option not to participate in it. This simple mechanism implements the desired outcome in iteratively undominated s...

Genetic erosion of domestic animal diversity has placed 30% of the world’s breeds at risk of extinction, often as a result of government policy/programmes. Conservation and sustainable development of animal genetic resources (AnGR) require a broad focus that includes the many ‘adaptive’ breeds that survive well in the low external input agriculture typical of developing countries. Environmental...

The valuation of a company is difficult, even for companies which evolve in a well-known, mature industry. The problem is far more comple , when the firm is a new born start-up company, where the traditional methods based on future free cash flows are difficult to apply, given the difficulties of estimating the future cash flows. In addition, with the start up companies, we are confronted with ...