We used extensions of traditional ARCH and GARCH models to examine the difference in the behavior of the first two moments of the price distribution during collusion and the absence of it using prices from two recently discovered conspiracies, citric acid and lysine. According to our results,...

This paper examines whether purchase of development right (PDR) programs slow the rate of farmland conversion or shift land and amenity losses to adjacent areas. We use county-level data from several Northeastern states with existing PDR programs to estimate the probability that farmland is...

This paper considers estimation and inference for the binary response model in the case where endogenous variables are included as arguments of the unknown link function. Semiparametric estimators are proposed that avoid the parametric assumptions underlying the likelihood approach as well as...

The idea that individuals adapt their behaviors in response to changes in incentive systems is fundamental to most economic analysis. This paper incorporates the concept of price discovery costs into the incentive theory to offer a theoretical model and empirical evidence on the differential...

We develop a theoretical model of land prices and urban expansion and derive a reduced-form expression for agricultural land values. This result dictates the specification of our econometric model in terms of variable choice and functional form. We find strong support for the model in an...

This paper utilizes a polychotomous choice function to investigate the relationship between socioeconomic characteristics and willingness-to-pay for embedded environmental attributes. Specifically, a two-stage estimation procedure with an ordered probit selection rule is used to predict the...

The United States embarked on a policy assuming excess demands for commodities are elastic. Some analysts question the success of that policy and argue that excess demands for farm commodities are inelastic. The controversy is deepened because the two traditional techniques for determining...

The purpose of this study is to evaluate potential changes in the length of product life cycles in the US seed corn industry. We use the observed survival time on the market for hybrids sold during 1997-2009 to conduct a survival analysis. Our empirical results show that the average lifetimes of...

Due to high losses of agricultural land in urbanizing areas over the past several years, state and local governments have adopted zoning regulations, right-to-farm ordinances, preferential property tax programs, and other means to protect agricultural land resources. Critics of the farmland...