Water management for irrigation requires suitable policy tools able to meet social objectives and private behaviour. The legal framework in the EU is today faced with the new water framework directive (60/2000), that sets up new criteria for water management, regulation and pricing. Among other...

This paper applies a semi-parametric approach to estimating a generalised model of investments in energy installations. The model accounts for irreversibility and lumpiness of investments by linking a parametric specification of the unobservable dynamic shadow price to observed investment...

The paper illustrates a theoretical model of real option value applied to the problem of land development. Making use of the 1998-2001 Kyrgyz Household Budget Survey, we show that when the hypothesis of decreasing return to scale holds, the relation between the threshold value of revenue per...