A recent strategy carried out by the aircraft industry to reduce the total cost of the new generation fighters has consisted in the development of a single airframe with different technical and operational specifications. This strategy has been designed to reduce costs in the Research, Design and Development phase with the ultimate objective of reducing the final unit price per aircraft. This i...

In estimating the cost-effectiveness of diagnostic procedures, it is helpful to treat diagnostic information as a commodity with a unit price. The amount of useful information provided by a test result can be measured in binary units (bits), and the unit price of the information produced by the test result can be expressed in dollars per bit in much the same way that the price of gold is given ...

Many studies now exist of the Total Economic Value of wetlands. Thesestudies show that they are highly productive ecosystems with many potentialuses. However, some of these uses conflict. Reduced flow from the River Nuraarising from water being diverted could lead to reduced water inflow into inter-nationally important wetlands and consequent catastrophic damage similar toth...

In this article we examine the effects of energy prices on groundwater extraction using an econometric model of a farmer’s irrigation water pumping decision that accounts for both the intensive and extensive margins. Our results show that energy prices have an effect on both the intensive and extensive margins. Increasing energy prices would affect crop selection decisions, crop acreage allocat...

In a mature water market with many active buyers and sellers and with a free flow of information about supply, demand and prices paid, prices should not vary greatly at any given time. Willing buyers should always be prepared to pay the going price set by the most efficient and highest value producing irrigators. This paper will analyse the prices paid in two water markets in Australia and iden...

This article studies a leader–follower differential game with finite horizon, where single buyer reacts to the selling price set by an agency (water supplier). The Open-Loop Stackelberg equilibrium is calculated, assuming that user demand fully satisfied (that is, interior solution considered), and following different tariff schemes are analyzed: linear scheme, increasing block tariff, convex t...