This paper explores preferences for use and sale of three types of agricultural land in Sublette County, Wyoming. Most respondents agreed that productive (irrigated) landscapes should remain in agriculture. Well-established residents, large landowners, and those pursuing low taxes preferred...

The Double-Bounded Dichotomous- Choice (DB-DC) Contingent Valuation format is thought to yield more precise welfare estimates. Questions remain about its validity. The initial bid may represent information with which respondents update their willingness to pay. A Bayesian model of respondent...

Ascribing agricultural land values solely to productive capacity does not accurately capture the impact of environmental amenities on western land prices. We analyze rural land prices in Wyoming using a hedonic price model. Geographic information systems data includes on-parcel wildlife and fish...

Auctions that require advance production increase seller costs because inventories must be held. This cost does not exist in production-to-demand markets for which production follows trading, and sales exactly match quantities produced. Data from laboratory computerized double auction markets...

In negotiated transactions the act of choosing trading partners and “who chooses” creates a bargaining culture that influences trading behavior. Results are presented from experimental markets in which paired buyers and sellers negotiate the repeated sale of units. Relative to a market...