This paper tests an equilibrium condition from a model that incorporates: (1) altruism of parents toward their young children and (2) household production of latent health risks. The model demonstrates that an altruistic parent’s marginal rate of substitution between an environmental health risk to herself and to her child is equal to the ratio of marginal risk reduction costs. Econometric esti...

This study proposes the use of marginal abatement cost curves to calculate environmental damages of agricultural systems in China's Loess Plateau. Total system costs and revenues, management characteristics and pollution attributes are imputed into a directional output distance function, which is then used to determine shadow prices and abatement cost curves for soil and nitrogen loss. Marginal...

We explore the case for monopolistic price flexibility in a linear setting. With different marginal costs, by changing the production mix price differentiation can improve welfare and also aggregate consumer surplus even if total output does not increase (as in the linear case). This depends on the variability of cost and demand parameters, and on their correlation. We also show that the welfar...

The dissemination of information by extension agents on dairy management prac­ tices used to control mastitis and the recep­ tion and use of that information by producers are investigated. Producers are surveyed to determine current practices used. The rela­ tionship between milk yield, somatic cell count, management practices, and producer and production characteristics is estimated. Subjectiv...

In this paper, we propose a management price framework to inform decision making directed at the land-management unit level when biodiversity is one of several land-management objectives. The management prices synthesize information about the production relationships that link the public goods aspects of biodiversity to land-management activities. High management prices indicate high marginal r...

Abstract In this paper, we introduce the notion of a marginal tube, which is hypersurface foliated by surfaces. It generalises marginally trapped tube and several notions black hole horizons, for example trapping isolated dynamical etc. We prove that if every spacelike section surface, then null. There no assumption on topology tube. To it, study geometry surfaces in four-dimensional spacetime ...

A Bayesian alternative to Zhuo (2018) is presented. The method is of general interest as it presents an explicit formula for the local sensitivity of log marginal likelihood when observations vary by a small amount. The remarkable feature is that the formula is very easy to compute and does not require knowledge of the marginal likelihood which is, invariably, extremely difficult to compute. Si...

This paper aims to identify the likely source(s) of value that cryptocurrencies exhibit in the marketplace using cross sectional empirical data examining 66 of the most used such 'coins'. A regression model was estimated that points to three main drivers of cryptocurrency value: the difficulty in 'mining 'for coins; the rate of unit production; and the cryptographic algorithm employed. These am...

This paper develops a model to examine the impacts of uncertainty about crop production and irreversibility of program participation on determining land rental payments and least-cost land retirement targeting in the Conservation Reserve Enhancement Program. Results show that under risk aversion only, the marginal cost of abatement and the average land rental payment are less than those under r...

Grazing businesses with a proportion of native grassland may face the choice of reassigning the rights to use an area of native grassland to the public. In analysing this choice it is important to establish the future situation of the farm business with and without the area of land in question, including the possibility of further development of production capacity on other areas of the farm. T...