The inclusion of spatial correlation of house price in hedonic pricing model may produce better marginal implicit price estimate(s) of the environmental variable(s) of interest. Most applications where a spatial econometric model is applied to the estimation of a hedonic property value model...

This paper investigates consumers willingness to pay money (WTPM) and willingness to pay time (WTPT) for an improvement in a public good. Joint estimation of WTPM, WTPT, and the value of time, in the context of an increase in community-wide recycling, suggests that consumers have a higher...

Replaced with revised version of paper 08/16/05.

Replaced with revised version of paper 07/28/05.

Recently several proposals have arisen to replace the current income tax system in the United States with a consumption based or Fair Tax. This study investigates the effect of such a consumption based tax on agricultural investment decisions using stochastic optimal control to model the...

Vulnerabilities realized following the terrorist attacks of September 11, 2001 highlight the need for the Federal government to allocate funding for the prevention and response to terrorist events based on vulnerability to terrorism. However, the funding formula used by the State Homeland...

The provision of municipal services by private contractors and cooperative arrangements has become increasingly prevalent in the US. Building on previous studies in Illinois and Wisconsin we attempt to model the municipal decision of how local governments provide residents with town services. In...

We analyze the impact of Michigan economic development policies and highway infrastructure improvements on per capita income and job growth in 1990s using fixed effect estimation procedure. We also improve measurement of policy treatment while accounting for possible spillover effect. The...

The spatial arrangement of public open spaces in communities has an important influence on the recreational net benefits from those public open spaces. A prime example of a public open space in communities where spatial arrangement is important is parks. From the perspective of maximizing the...

While high transportation cost and market power are long-recognized sources of market inefficiency, their analytical relation has not been established in a developing country context. In this paper, we analyze the mechanism by which lower transportation costs increase farm prices and profits by...