Post-2004 Working Papers (some since published)


The Uselessness of Cost-Benefit/Kaldor-Hicks Evaluations in a General Framework


Consumer Surplus, the Coase Theorem, and the Fraught Search for a Unique Objectively Efficient Allocation: An Elementary View.

Fixed Income for Retirement Saving: TIAA Traditional’s Lessons on Quality, Duration, Risk, and Gradual Withdrawals. A version with some minor wording changes, no use of color, and no URL's in the bibliography is forthcoming in the Journal of Retirement, 2020.  Mathematica output in PDF form for the code underlying this paper is here, with brief investigations of the Sharpe Ratios here.

Financing Retirement using U.S. Treasury Bonds: Safe Withdrawal Rates, Mean/Standard-Deviation Frontiers, and Endpoint-Dependence of the Safest Maturity.

Constant-Duration Bond Portfolios' Initial (Rolling) Yield Forecasts Return Best at Twice Duration and its associated Excel spreadsheets for locally-flat and for sloped yield curves; and brief Mathematica output for the proof of Proposition 5.  (The first Excel worksheet in each file is a basic summary, and contains the value of "F" to which all other worksheets refer.)

A Simple Approach to Choice of a Parameter When Stochastic-Decision-Making Errors have Asymmetric Costs.

The Hotelling Rule for Entropy-Constrained Economic Growth.  Forthcoming, Ecological Economics.

The Risk-Minimizing Portfolio when Planning to Buy a Fixed Immediate Annuity.

Other Work:


Agricultural Water Use, Hay, and Utah’s Water Future (working paper, first version September 2021)

The Lake Powell Pipeline (pro bono work):

The Bear River Development
          Report, 2019
          Slide Presentation, Nov. 2019
          Excel Spreadsheet, Sept. 2019
          Explanation of the Spreadsheet
          Slide Presentation, Feb. 2020
          Early 2020 Update of Report incorporating analysis of the State's October 2019 report; its supporting Excel file and Mathematica file in Wolfram notebook and PDF formats; and a slide presentation on this update.           

Severance Taxes in Utah.

Some pre-2005 publications:

“Resource Depletion, National Income Accounting, and the Value of Optimal Dynamic Programs.”  Resource and Energy Economics 17 (1995), 137–154.

“Entropy and the Economic Process.” A different version of this paper, including less bibliographic information and no footnotes, appears in Cutler J. Cleveland, ed., Encyclopedia of Energy, 2004, Volume 2, 471–478. Amsterdam: Elsevier.

LaTeX Macros:

A LaTeX macro file modifying the JAMTimes package (expanded (widened) Times-Roman-like fonts used by the Jour­nal d'Anal­yse Mathé­ma­tique) in various ways, among them making the width of plus and minus signs equal to each other.  Boris Veytsman, author of the JAMTimes package, saw some merit in this macro file.  (Original version 2015; current, greatly simplified version April 2020, reflecting version 1.625 (2020/03/02) of Michael Sharpe's newtxmath.sty from the newtx package at the CTAN archive.)