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For multiproduct firms, data on aggregate input usage are typically available but data on activity-specific inputs are not. The present study proposes a generalized cross-entropy approach to estimate activity-specific input allocations that are consistent with the aggregate information. The...

The present study investigates whether the farmland "constant-discount-rate present-value-model (CDR-PVM) puzzle" is due to transaction costs. The theoretical implications of transaction costs for the CDR-PVM of farmland are discussed, and two bootstrap tests of such implications are introduced...

Economists have proposed several plausible explanations for observed price transmission asymmetries in commodity markets. Unfortunately, the econometric methods commonly used in such studies cannot empirically distinguish pricing behavior under the competing theories. We argue that the theories...

In this article, we develop land use models to study the impact of changes in decision variables on soil erosion or other environmental outcomes. From an underlying behavioral model, we use maximum entropy to recover a parametric model of county-level land use shares as a function of decision...

Economists have proposed several plausible explanations for observed price transmission asymmetries in commodity markets. Unfortunately, the econometric methods commonly used in such studies cannot empirically distinguish pricing behavior under the competing theories. We argue that the theories...