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The market for insuring insect damage is far from complete. This study introduces a new type of derivative instrument‐insect derivatives‐that provide growers a market‐based means of transferring insect risk to speculators or others who may profit from higher insect populations. A risk‐neutral valuation model is developed and applied to Bemisia tabaci population data. Economic simulation models show how insect derivatives can improve risk‐return results for a representative cotton farm in the Imperial Valley of California. The results suggest that insect derivatives may become important risk management tools for a wide range of growers.

Through the prism of intimacy, this chapter discusses how experiences of pain and loss in relation to bereavement by suicide is expressed in the black metal music and lyrics by Danish band Orm. Orm's 2019-album Ir ‘verdigris’, entangles the emotional complex and personal relations to the local, natural surroundings of the island Bornholm, including a named tree and lake, as well as local folklore and Norse mythology. As part of fieldwork, the author muddles with intimacy to define an approach sensitive enough to deal with strong and unspeakable emotions, including the idea of cultural intimacy and public embarrassment related to the issue of suicide. The author also reflects on how my participation in the pain of others informs the interpretation. The chapter suggests that Orm's black metal is doing important pain work, opening to listeners a path towards disembarrassment.

Despite the recent trend of off‐shoring branches of UK services industry to remote locations, urban theory has yet to enlist a theory of industrial rents that formally takes into account the properties of substitution between locations. The purpose of this paper is to elaborate on the Fujita, et al. model in order to develop theoretical foundations for a pricing theory of contemporary commercial real estate markets.

The paper employs panel data methods for the simultaneous estimation of local market rent structures, which include a complex of spill‐over effects from all other parts of the national market. The estimations are based on time series of locally adjusted estimates of tenancy demand and supply proxies for 48 UK office centres. Influences from the entity of UK regions are considered by applying a variety of deterministic and stochastic structural variability tests. The estimated structures are subjected to multivariate co‐integration tests for an examination of the stability of structural differentials.

The paper appears to find considerable support to the hypothesis that rental spill‐overs exist across the network of office centres in the UK. It suggests that the structure of these markets is characterised by certain properties of substitution and complementarity that have generally been observed in a wide range of real consumer or producer markets. This finding is critical to the development of a policy theory for national planning, which takes into account the impacts of local planning policies on national aggregate economic welfare.

This analysis is limited by the unavailability of a coherent theoretical micro‐economic framework, which may be the focus of further research.

The focus of this paper is on offices and business services industry but the principles can be extended to include industrial space. The paper questions some of the central assumptions and methodological approaches used in existing industrial location theory. It proposes a model that considers location pricing and allocation in relation to strategies to improve the spatial organisation of multinational services firms.

An appraisal is normally conducted to determine financial viability of property development projects for several purposes. The residual valuation method is normally used to appraise such projects and the purpose of the paper is to examine its financial viability decision rules (FVDRs) used by practitioners.

The qualitative research approach was adopted based on the case study strategy of enquiry where 48 development appraisal reports from 37 Royal Institution of Chartered Surveyors registered firms in London were accessed from the internet and critically reviewed.

Site-specific and area-wide development appraisals for planning purposes dominated the reports. Five FVDRs were identified. A development project is financially viable if: (i) computed residual profit expressed as a percentage return is equal to or greater than a determined market benchmark risk-adjusted return; (ii) computed residual profit expressed as a percentage return is positive; (iii) calculated residual land value is greater than open market land value or benchmark land value; (iv) computed residual land value is positive; and (v) there is a surplus when appraisal cost variables including land costs plus allowance for developer’s profit are deducted from gross development value. In some reports, it was discovered some appraisal cost variables were excluded whilst others were inappropriately treated.

The first and third FVDRs are reasonable whilst the remaining are fraught with problems and using them can make development projects that are financially unviable to be viable. Also, excluding relevant cost variables and treating some inappropriately understate the appraisal cost component resulting in incorrect financial viability outcomes. These can lead to wrong recommendations about financial viability being proffered that negatively affect the practitioners’ clientele. The dominance of development appraisals for planning purposes shows the important role development appraisals continue to play in the English planning system.

To the best of the author’s knowledge, it is the first time FVDRs in development appraisals have been systematically investigated in England with resultant new empirical findings and arguments.

This paper is intended to assess the developments conducted on the master plan of Old Najaf, mainly in three areas: the Imam Ali Holy Shrine and its surroundings, the Great Market Area and the location of the Town of Visitors.

In order to analyse the implementation of the transformation phases in Old Najaf, the Strengths, Weaknesses, Opportunities, and Threats (SWOT) technique was used to identify and organise the strengths, weaknesses, opportunities and threats related to the examined case study of the city's historic centre. At the first stage, all available data (photographs, maps, documents and reports) were collected from different sources, including previous studies by governmental institutions, departments and agencies. Ultimately, the SWOT analysis was used for each identified phase in the morphological evolution of the historic centre. This can offer an opportunity to observe the implications of urban planning practices in Old Najaf from the mid-20th century to the present day. In order to identify the well-organised urban design practices and appropriate strategies, the implemented studies and projects were examined by the four factors of the SWOT analysis.

The current results have revealed important urban transformations, already made and/or ongoing, of those aforementioned three main areas, which imply a great loss of the city's traditional character and urban heritage. Further, the environmental and socio-economic issues should be involved in the analysis to evaluate how they have influenced the current outcomes of Old Najaf in relation to the urban configuration and orientation.

The rich cultural and architectural heritage of Al-Najaf historic centre is dramatically neglected and seriously threatened to be lost. Hence, conservation on both tangible and intangible levels is urgently needed. It is the first paper which focussed on this problem and tries to learn from the British Conservation Experiences in this field.

This paper aims to build a set of long-term, geographically controlled land value indices for Santiago de Chile, with which to test land rent theory predictions regarding macroeconomic impacts.

This paper uses a geographic cluster approach to the Laspeyres estimator, weighted by the stock of available land plots and their market offers per zone, to create two quarterly land value indices for Gran Santiago during the period 1983Q4–2016Q2. Subsequently, this paper implements dynamic time series methods (Vector Error Correction) as a baseline to determine the effect of economic performance and interest rate on urban land values.

The two land value indices are correctly predicted by economic and interest rate shocks, as theoretically expected. In addition, this paper found that land values grew faster-than-predicted during the period of the so-called “Chilean Miracle” (1992–1998), a situation associated in the literature with worsened housing affordability and socio-spatial inequality.

The land value indices offer unprecedented time-series precision in tracking the long-term performance of real estate markets in a Latin American city, allowing us to produce short- and long-term (accumulative) time-series causality analyses.

The textile sector struggles with cotton stickiness from honeydew contamination. It hurts agriculture and marketability. This study aims to examine how bacterial enzymes could reduce honeydew-contaminated cotton adherence in textile businesses sustainably.

Enzyme was extracted from bacteria isolated from the fermented bamboo shoots “Lung siej”. The enzyme was tested for α-glucosidase using p-nitrophenyl-α-D-glucopyranoside as a substrate. Design of experiments determined enzyme activity temperature and reaction time. Laboratory-prepared artificial honeydew was added to ginning mill cotton to show honeydew contamination. After enzyme treatment, sticky cotton was tested for microscopic examination, ultraviolet (UV), Benedict’s, Elsner colorimetric, high volume instrument (HVI) and viscosity tests.

The bacterial isolate is characterized as Lysinibacillus sp. as confirmed by 16S rRNA gene sequencing. The enzyme extracted was identified as α-glucosidase. The ideal temperature and reaction time for enzymatic activity were 32 °C and 35 min, respectively, using central composite design. The microscopic examination, UV test, Benedict’s test, Elsner colorimetric test, HVI test and viscosity test showed that bacterial enzyme treatment reduced cotton fiber adherence.

Although few patents have examined the effect of yeast enzymes, to the best of the authors’ knowledge, a bacterial enzyme is investigated for the first time to reduce the adhesion of honeydew-contaminated cotton.

Bales of cotton run through the gins and textile mill instruments, stick to them and make it cumbersome for the ginning mill workers. This is so because more time and money have to be invested in cleaning these instruments. The stickiness of cotton causes health hazards to the workers, decreases the yarn quality and economic loss to the textile industry. The effect of cotton stickiness on textile ginning, various methods for cotton stickiness detection and the steps for reduction are discussed.

The different methods that are available for detecting and measuring cotton stickiness are described. The sugars that cause stickiness are either of plant origin (physiological sugars) or from the feeding insects (entomological origin). The methods for stickiness detection and reduction are discussed under physical, chemical and biological categories.

This review suggests possible ways to mitigate cotton stickiness.

One of the major issues of the textile industry is honeydew-contaminated cotton stickiness. However, there are few papers on detection methods for analyzing honeydew cotton stickiness along with the approaches to reduce stickiness. This paper summarizes different methods along with a study for detection as well as reduction of cotton stickiness.

The purpose of this paper is to review the life of the famous mathematician Kiyosi Itô and discuss his influence on the study of agricultural finance and agricultural economics.

This paper is a qualitative historical review.

The paper provides a biographical stretch of Itô's life. It is shown that his influence started to infiltrate the agricultural economics profession at around 1985 and is currently a major influence of a range of economic issues from farm policy to agricultural investments.

The biography is limited to a review of Itô's academic life and influence.

The paper offers a historical perspective on how probability emerged as a critical piece of the economic puzzle. For scholars and practitioners of agricultural finance, the paper provides an in depth review of how Itô processes have, and can, be used.

This paper provides a historical perspective on Itô that is of use to students and scholars of rural credit. This is the first “biography” of Itô to discuss his influence on agricultural finance and agricultural economics.

The purpose of this paper is to provide a general discussion of how techniques from financial engineering can be used to investigate the economic costs of farm programs and to aid in the design of new financial products to implement margin protection for dairy farmers. Specifically the paper investigates the Milk Income Loss Contract (MILC) and the Dairy Margin Protection (DMP) program. In addition the paper introduces the concept of the Milk to Corn Price ratio to protect margins.

The paper introduces and reviews the tools of financial engineering. These include the stochastic calculus and Itô's Lemma. The empirical tool is Monte Carlo simulations. The approach is part pedagogy and part practice.

In this paper the authors illustrate how financial engineering can be used to price complex price stabilization formula in the USA and to illustrate its use in the design of new products.

In this paper the authors illustrate how financial engineering can be used to price complex price stabilization formula in the USA and to illustrate its use in the design of new products.

Farm programs designed to protect dairy farmers margins are designed in a seemingly ad hoc fashion. Assessments of programs such as MILC or DMP are conducted on an ex-post basis using historical data. The financial engineering approach presented in this paper provides the means to add significant depth to the assessment of such programs which can be used in conjunction with Monte Carlo simulation to identify alternative model structures before they are written into law.

This paper builds upon an existing literature. Its originality is in the application of financial engineering techniques to farm dairy policy.