openaccess Tag

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03 Jul

Posted at 14:53h in Selected Articles by

"Economic Losses from Forecasting Error in Agriculture," Journal of Political Economy Vol. 88(2) (April 1980):  234-58.

Abstract

This paper develops a new method for estimating economic losses from forecasting error. The method is an alternative to the traditional distributed lag approach to estimating expectations. An application to Kansas agriculture over the period 1874-1933 reveals significant variation in farmers' price forecasting performance across counties and over time. These differences...

02 Jul

Posted at 12:41h in Selected Articles by

"Game Theory and Climate Diplomacy" (with Anders Fremstad), Ecological Economics 85 (2013): 177-187

Abstract

Starting with the “New Periodic Table” (NPT) of 2×2 order games introduced by Robinson and Goforth (2005), we provide an exhaustive treatment of the possible game-theoretic characterizations of climate negotiations between two players (e.g., Great Powers or coalitions of states). Of the 144 distinct 2×2 games in which the players have strict ordinally ranked...

01 Jul

Posted at 14:45h in Selected Articles by

"Investment in Energy Efficiency: Do the Characteristics of Firms Matter?" (with William E. Watkins) Review of Economics and Statistics 80, 1998

Abstract

The literature on energy efficiency provides numerous examples of apparently profitable technologies that are not universally adopted. Yet according to the standard neoclassical theory of investment, profit-maximizing firms should undertake all investments with a positive net present value....