We develop a real option model of the irreversible native grassland conversion decision. Upon plowing, native grassland can be followed by either a permanent cropping system or a system in which land is put under cropping (respectively, grazing) whenever crop prices are high (respectively, low)....

This paper further tests dual interest theory and the metaeconomics approach to environmental choice, recognizing a possible role for empathy-sympathy (the basis for an internalized, shared other-interest) in tempering and conditioning the more fundamental tendency to pursue self-interest. To...

This paper presents the first part of an ongoing project whose objective is to present a long term relationship between conservation tillage, adoption of GE crops and pesticide use for major crops in the United States. In addition, the project aims to provide some innovative tests on causality...

This study estimates the costs of adoption of conservation tillage by Iowa corn farmers by utilizing the method of empirical estimation of a logit model that incorporates the full information on the attributes of agents and county aggregated measures of agents’ choices. The methodology treats...

Many studies have done econometric estimates of how climate alters crop yields and or land rents in an effort to gain information on potential effects of climate change. However, an important related factor, the atmospheric carbon dioxide (CO2) concentration, and in fact a driver of climate...