Environmental policies are characterized by a growing emphasis on participation, devolution and negotiated decision making. Increasingly, centralized top down decision making systems are being replaced by new forms of local governance. In their strongest versions, these involve delegation of...

Agency theory explanations for agricultural contract designs are often observationally equivalent to perfect information explanations. Further in order to test properly the hypothesis that moral hazard is important one must first test and accept the hypothesis that agents respond to contract...

Sustainable agriculture is prescribed as a policy approach that maximizes economic benefits while maintaining environmental quality. It is argued that this approach is human capital intensive and encourage$ new scientific developments. To attain sustainability, economic incentives for the...