This paper analyzes the impact of economic prospects on one’s time preference. Research in psychol- ogy has shown how individuals modify their preferences in order to reduce their cognitive dissonance, which is the uncomfortable tension felt when simultaneously holding conflicting thoughts. It...

This paper investigates on-farm income diversification determinants, using data from the Italian 2010 census. The determinants are investigated by simulating farmers’ behaviors as a two-step process through the application of the Heckman sample selection model. Model results are quite...

Using an incentive-compatible framed field experiment, we investigate whether consumers’ food consumption is more eco-friendly when the information about a product’s environmental impact is more easily accessible. Through an online choice experiment, we identify a food label that is...

A survey with validation question was delivered to 3475 respondents to study the impact of using validation question to improve data quality. Results show that The respondents who passed the validation question had significantly older ages, higher median incomes and higher education levels. The...

Auctions are commonly used when a seller is unsure about the values that potential buyers attach to the object being sold. Bidders’ willingness to pay can be elicited in the form of bids. Many auctions are designed to be truth revealing such that bidders’ optimal strategy is to bid their...

Time-series methods based on panel data are used to increase the power of conventional econometric tests of present value models commonly applied to studies of asset valuation. A second contribution is to allow for the presence of frictions in farmland markets by allowing for threshold...

Prices for prime farmland have increased significantly in recent years. But, is the dramatic increase the result of a speculative bubble or is it consistent with market fundamentals with increases driven by growing global demand and recent changes to U.S. agricultural and energy policies? This...