We propose a closed-form pricing formula for the Chicago Board Options Exchange Volatility Index (CBOE VIX) futures based on the classic discrete-time Heston–Nandi GARCH model. The parameters are…

This article contributes to a growing body of empirical literature relating credit constraints and incomplete insurance to investment decisions. We use panel data from rural Ethiopia to investigate…

this study uses a randomized experiment in rural Ethiopia to test on how quickly energy efficient technology (an improved stove) is put in use after the technologies is disseminated. We evaluate two…

We used locally-sourced and other relevant information to value ecosystem services provided by South Africa's terrestrial, freshwater and estuarine habitats. Our preliminary estimates suggest that…

There is growing interest in promoting the use of Ecosystem-based Adaptation (EbA) practices to help smallholder farmers adapt to climate change, however there is limited information on how commonly…

The long-run relationship between carbon dioxide emissions from energy use and economic activity level is estimated for Uruguay between 1882 and 2010. We apply cointegration techniques and estimate a…

Spillovers can significantly reduce or enhance the net effects of land-use policies, yet there exists little rigorous evidence concerning their magnitudes. We examine how Costa Rica’s national parks…

Conservation programs have increased significantly, as has the evaluation of their impacts. However, the evaluation of their potential impacts beyond program borders has been scarce. Such spillovers…

Measuring inequality can be challenging due to the limitations of using household income or expenditure data. Because actual energy consumption can be measured more easily and accurately and is…

This study reviewed the forestry policy evolution in China as of the reform and opening-up, and concluded the three basic evolution tendencies in the forestry policies, i.e., 1) The Pareto improvement…