In this short paper, uncertainties on resource stock and on technical progress are introduced into an intertemporal equilibrium model of optimal extraction of a non-renewable resource. The representative consumer maximizes a recursive utility function which disentangles between intertemporal elasticity of substitution and risk aversion. A closed-form solution is derived for both the optimal ext...

The paper deals with rent-seeking behaviour among agents competing for future shares of a common renewable natural resource. Rent-seeking might become profitable when the agents expect that the distribution of the natural resource in future periods will be dependent on the agents’ extraction of the resource in the past, even though high exploitation might reduce the stock that future individual...

ABC analysis is a popular and effective method used to classify inventory items into specific categories that can be managed and controlled separately. Conventional ABC analysis classifies inventory items three categories: A, B, or C based on annual dollar usage of an inventory item. Multi-criteria inventory classification has been proposed by a number of researchers in order to take other impo...

The paper deals with rent-seeking behaviour among agents competing for future shares of a common renewable natural resource. Rent-seeking might become profitable when the agents expect that the distribution of the natural resource in future periods will be dependent on the agents’ extraction of the resource in the past, even though high exploitation might reduce the stock that future individual...

We consider a system of two coupled queues, Q1 and Q2. When both queues are backlogged, they are each served at unit rate. However, when one queue empties, the service rate at the other queue increases. Thus, the two queues are coupled through the mechanism for dynamically sharing surplus service capacity. We derive the asymptotic workload behavior at Q1 for various scenarios where at least one...

Given q1, q2 ∈ C \ {0}, we construct a unital Banach algebra Bq1,q2 which contains a universal normalized solution to the (q1, q2)-deformed Heisenberg–Lie commutation relations in the following specific sense: (i) Bq1,q2 contains elements b1, b2, and b3 which satisfy the (q1, q2)-deformed Heisenberg–Lie commutation relations (that is, b1b2 − q1b2b1 = b3, q2b1b3 − b3b1 = 0, and b2b3 − q2b3b2 = 0...

We study the determinants of sovereign bond yield spreads across 10 EMU countries between Q1/1999 and Q1/2010. We apply a semiparametric time-varying coefficient model to identify, to what extent an observed change in the yield spread is due to a shift in macroeconomic fundamentals or due to altering risk pricing. We find that at the beginning of EMU, the government debt level and the general i...

abstract among different water usage in iran, agricultural sector with 94 percent is the largest water user. considering the share of agriculture in water usage, farmers are the main factor in water resources management. therefore, optimal utilization of irrigation and drainage networks would depend on farmers’ effective role. due to the limited water resources in different country regions, inc...

The k-Nearest Neighbor (kNN) method of forest attribute estimation and mapping has become an integral part of national forest inventory methods in Finland in the last decade. This success of kNN method in facilitating multi-source inventory has encouraged trials of the method in the Great Lakes Region of the United States. Here we present results from applying the method to Landsat TM and ETM+ ...