Several studies have shown that when a single wildlife stock is influenced by several adjacent forest stands, through production of habitat and/or forage, the optimal harvest timing of those stands can be interdependent. This study adds a second possible dependency between trees and wildlife browsing by the wildlife species may damage valuable trees. The optimal joint management of trees and wi...

Despite growing concerns about overexploitation of sharks, lack of accurate, species-specific harvest data often hampers quantitative stock assessment. In such cases, trade studies can provide insights into exploitation unavailable from traditional monitoring. We applied Bayesian statistical methods to trade data in combination with genetic identification to estimate by species, the annual numb...

The Challenger crash was a highly visible event whose underlying cause was not publicly revealed until much later. Methodologically, the event has appealing features. It was an exogenous occurrence. There was no leakage that induced run-up or run-down in the pre-event period. Our basic analysis provides a test of market efficiency. How quickly and accurately did the stock market process the imp...

This paper analyzes the optimal design of stock option vesting conditions when the CEO faces a risk of being replaced at an interim date. First, I show that long vesting terms do not necessarily discourage but in fact can encourage short-termism. Second, the model demonstrates that the optimal vesting schedule involves balancing incentives for managerial effort with incentives for long-term inv...

This paper characterizes the labor supply and borrowing of a household facing collateral requirements that limit its debt and compel it to accumulate equity in its durable goods stock. The household’s discount rate exceeds the market rate of interest, so it would otherwise finance increased current consumption by borrowing against future wages. Collateral constraints generate a positive comovem...

For an efficient recovery and reuse of resources of the building stock, as described in urban mining, information about prospective quantities and qualities of resources is essential. For current stock projections with the so-called bottom-up-method, especially information about building types and building ages has to be known. Currently there is a lack of continuous datasets regarding detailed...

Chemical composition and liberation are critical attributes in characterizing a resource stock for beneficiation investigations. Though end-of-life printed circuit board is recognized as a valuable secondary resource stock, no procedural standard exists for the determination of its chemical composition, nor for the -75 microm fines generated during its comminution. The effect of the digestion p...

We review one recent approach to the equity premium puzzle. The key elements of this approach are loss aversion and narrow framing, two well-known features of decisionmaking under risk in experimental settings. In equilibrium, models that incorporate these ideas can generate a large equity premium and a low and stable risk-free rate, even when consumption growth is smooth and only weakly correl...

Events represent a significant source of information on the web; they deliver information about events that occur around the world in all subjects and areas. These events can be collected and organized to provide valuable and useful information for decision makers, researchers, as well as for any person seeking knowledge. In this paper, we discuss an ongoing research to target stock markets dom...