Each year U.S. farmers receive more subsidies than needy families receive through welfare assistance or post-secondary students receive through student aid grants. Yet, who benefits from agricultural subsidies is an open question. Economic theory predicts the entire subsidy incidence should be...

We examine different market-based mechanisms and other incentives intended to promote the environmental remediation and reuse of brownfields. Policies that encourage cleanup and re-use of brownfields offer real estate developers reductions in regulatory burden, relief from liability for future...

The existing empirical literature on farmers' use of soil-conserving, runoff-reducing farming practices, while sizable, contains relatively little information on the influence of cost on adoption decisions and on how farmers combine multiple practices into an overall conservation package. Such...

This paper studies bidder behavior in an innovative program in which farmers compete to sell their development rights to the State. We derive a reduced form bidding model that includes both private value and common value components. This model allows us to estimate the role of bidder...