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- All Subjects: risk
- Creators: Economics Program in CLAS
This paper examines infrastructure spending in a model economy. Infrastructure is subdivided into two types: one that makes future production more efficient, and another that decreases the risk of devastation to the future economy. We call the first type base infrastructure, and the second type risk-reducing infrastructure. Our model assumes that a single representative individual makes all the decisions within a society and optimizes their own total utility over the present and future. We then calibrate an aggregate economic, two-period model to identify the optimal allocation of today’s output into consumption, base infrastructure, and risk-reducing infrastructure. This model finds that many governments can make substantive improvements to the happiness of their citizens by investing significantly more into risk-reducing infrastructure.
This thesis conducted an evaluation of the performance and return on investment of a 2 x 6m, simple design greenhouse, as a climate control technology. Specifically, differences in internal microclimate conditions between a greenhouse treatment plot, and sun and shaded control plots were assessed and related to observed differences in crop yields across these plots. Growing conditions and productivity of two crops, tomato and swiss chard, which were grown over summer and winter growing seasons, respectively, were compared. It was found that the greenhouse was associated with improved growth conditions (as measured by the R-Index) for both crops but resulted in higher productivity only for tomatoes. Return on investment and food security impacts from the scaling of greenhouse agriculture were also explored.