The dynamic nature of loads, seasonal variation of soil properties, uneven soil strata below footings or inappropriate design of foundation makes differential settlement inevitable. Differential settlement is largely responsible for developing forces or changing the existing forces in the structure and is often considered as the underlying cause of many structural failures. A structural enginee...

The initial consolidation settlement process of saturated cohesive soils has been one of the most important issues to geotechnical engineers especially in important and sensitive structures based which are located on saturated clay layer with high thickness.  In dealing with initial consolidation settlement process and reducing its negative and destructive consequences, a number of solutions ha...

There are numerous active and abandoned waste sites in the US and worldwide. Post‐closure development of these sites is desirable from an environmental, societal and economical perspective. However, the post‐closure development of landfills presents many challenges. A major challenge is the generally soft nature of the municipal solid waste (MSW) and the high pote...

We study two dynamic models of payments systems. The ...rst is a deterministic model with spatial separation where we consider alternative payments systems institutions and their implications for allocation and welfare. A payments system with period-by-period settlement in outside money improves on decentralized exchange using currency by reducing average cash balances and the average holding p...

Policy makers and static economic models often argue that contingent fees cause lawyers to settle cases sooner than their clients would like, so as to avoid accumulating costs of bargaining. Yet, in a dynamic setting, a willingness to sink costs can be a strategic advantage when seeking to establish the credibility of threats. This paper shows that this can be the case for cost-bearing continge...

This paper presents an integrated theory of money and dynamic credit. I study financial intermediation when both the intermediary and individuals have private information. I show that money is essential in solving the two-sided incentive problems under the dynamic credit arrangement. First, requiring settlement with money can induce market trades that generate information-revealing prices to di...

We analyze how the life settlement market – the secondary market for life insurance – may affect consumer welfare in a dynamic equilibrium model of life insurance with one-sided commitment and overconfident policyholders. As in Daily et al. (2008) and Fang and Kung (2010), policyholders may lapse their life insurance policies when they lose their bequest motives; but in our model the policyhold...