The Firm Divided, Oxford University Press, New York (352 pp., 2017). ISBN: 9780190641184.
Real Options in Theory and Practice, Oxford University Press, New York (432 pp., 2009). ISBN: 9780195380637.
"Farm debt and the over-exploitation of natural capital." Resource and Energy Economics 77, 101439 (2024).
"Optimal adaptation to uncertain climate change." Journal of Economic Dynamics and Control 151, 104621 (2023).
"Land hoarding and urban development." Journal of Real Estate Finance and Economics 67, 753–793 (2023).
"Discounting, disagreement, and the option to delay." Environmental and Resource Economics 80(1), 95–133 (2021).
"How managerial ownership and the market for corporate control can improve investment timing" (with Cameron Hobbs). Journal of Banking and Finance 128, 106154 (2021).
"Adapting to rising sea levels: How short-term responses complement long-term investment." Environmental and Resource Economics 78(4), 635–668 (2021).
"A dynamic model of managerial entrenchment and the positive incentives it creates." Journal of Economic Dynamics and Control 123, 104057 (2021).
“Easy money? Managerial power and the option backdating game revisited” (with Tom Stannard). Journal of Banking and Finance 118, 105887 (2020).
“Investment flexibility as a barrier to entry.” Journal of Economic Dynamics and Control 116, 103928 (2020).
“Regulation, welfare, and the risk of asset stranding.” Quarterly Review of Economics and Finance 78, 273–287 (2020).
“Incentivizing residential land development.” Housing Studies 35(5), 820–838 (2020).
“Real options analysis of climate-change adaptation: Investment flexibility and extreme weather events.” Climatic Change 156(1–2), 231–253 (2019).
“Real options and the cross-section of expected stock returns.” Journal of Economic Surveys 28(2), 265–283 (2014).
“Forest valuation under the NZ emissions trading scheme: A real options binomial tree with stochastic carbon and timber prices” (with James Tee, Riccardo Scarpa, and Dan Marsh). Land Economics 90(1), 44–60 (2014).
“Real options analysis as a practical tool for capital budgeting.” Pacific Accounting Review 25(3), 259– 277 (2013).
“The role of storage in a competitive electricity market and the effects of climate change” (with Lew Evans and Andrea Lu). Energy Economics 36, 405–418 (2013).
“A value premium without operating leverage.” Finance Research Letters 10(1), 1-11 (2013).
“Price-cap regulation and the scale and timing of investment” (with Lew Evans). RAND Journal of Economics 43(3), 537–561 (2012).
“Uncertainty and the trade-off between scale and flexibility in investment.” Journal of Economic Dynamics and Control 36, 1718–1728 (2012).
“Regulated prices and real options.” Telecommunications Policy 36(8), 650–663 (2012).
“An examination of Frank Wolak’s model of market power and its application to the New Zealand electricity market” (with Lew Evans). New Zealand Economic Papers 46(1), 25–34 (2012).
“A note on operating leverage and expected rates of return.” Finance Research Letters 8, 88–100 (2011).
“Learning options and binomial trees.” Wilmott Journal: The International Journal of Innovative Quantitative Finance Research 3(1), 1–23 (2011).
“Holding onto your horses: Conflicts of interest in asset management” (with Glenn Boyle and Luke Gorton). Journal of Law and Economics 53(4), 689–713 (2010).
“House prices, development costs, and the value of waiting.” Journal of Urban Economics 68, 56–71 (2010).
“Estimating unobservable valuation parameters for illiquid assets” (with Glenn Boyle and Neil Quigley). Accounting and Finance 49(3), 465–479 (2009).
“Carbon subsidies, taxes, and optimal forest management” (with Dinesh Kumareswaran). Environmental and Resource Economics 43(2), 275–293 (2009).
“How options provided by storage affect electricity prices” (with Lew Evans). Southern Economic Journal 75(3), 681–702 (2009).
“Assessing the integration of electricity markets using principal component analysis: Network and market structure effects” (with Lew Evans and Steen Videbeck). Contemporary Economic Policy 26(1), 145–161 (2008).
“Electricity spot price dynamics: Beyond financial models” (with Steen Videbeck). Energy Policy 35(11), 5614–5621 (2007).
“Competing payment schemes” (with Julian Wright). Journal of Industrial Economics 55(1), 33–67 (2007).
“Missed opportunities: Optimal investment timing when information is costly.” Journal of Financial and Quantitative Analysis 42(2), 467–488 (2007).
“Regulating infrastructure: The impact on risk and investment.” Journal of Economic Literature 44(4), 925–972 (2006).
“Pricing access: Forward versus backward looking cost rules” (with John Small and Julian Wright). European Economic Review 50(7), 1767–1789 (2006).
“A dynamic theory of cooperatives: The link between efficiency and valuation” (with Lew Evans). Journal of Institutional and Theoretical Economics 162(2), 364–383 (2006).
“Incentive regulation of prices when costs are sunk” (with Lew Evans). Journal of Regulatory Economics 29(3), 239–264 (2006).
“Hedging the value of waiting” (with Glenn Boyle). Journal of Banking and Finance 30(4), 1245–1267 (2006).
“Payback without apology” (with Glenn Boyle). Accounting and Finance 46(1), 1–10 (2006).
“Reply to the comments of Duckworth and Lewis” (with Michael Carter). Journal of the Operational Research Society 56, 1337–1341 (2005).
“Human capital and popular investment advice” (with Glenn Boyle). Review of Finance 9(2), 139–164 (2005).
“Risk, price regulation, and irreversible investment” (with Lew Evans). International Journal of Industrial Organization 23, 109–128 (2005).
“Cricket interruptus: Fairness and incentive in limited overs cricket matches” (with Michael Carter). Journal of the Operational Research Society 55(8), 822–829 (2004).
“The optimal design of interest rate target changes” (with Julian Wright). Journal of Money, Credit and Banking 36(1), 115–138 (2004).
“Investment, uncertainty, and liquidity” (with Glenn Boyle). Journal of Finance 58(5), 2143–2166 (2003).
“Cash flow immediacy and the value of investment timing” (with Glenn Boyle). Journal of Financial Research 26(4), 553–570 (2003).
“Open mouth operations” (with Julian Wright). Journal of Monetary Economics 46(2), 489–516 (2000).
“Testing the expectations theory of the term structure for New Zealand” (with Julian Wright and Jun Yu). New Zealand Economic Papers 33(1), 93–114 (1999).
“User charges for internet: The New Zealand experience” (with Michael Carter). Telecommunications Systems 6, 301–313 (1996).
“Recursion operators and nonlocal symmetries.” Proceedings of the Royal Society of London, Series A 446, 107–114 (1994).
“More nonlocal symmetries of the KdV equation.” Journal of Physics A: Mathematical and General 26, L905–L908 (1993).
“Nonlocal symmetries of the KdV equation” (with Mark Hickman). Journal of Mathematical Physics 344, 193–205 (1993).
“Commodity prices and the option value of storage” (with Lew Evans), in Nicola Secomandi (ed.) Real Options in Energy and Commodity Markets, World Scientific-Now Publishers Series in Business (2017).