Capital asset pricing model (CAPM) and arbitrage pricing theory (APT) are used to assess the financial performance of eight forestry-related investment vehicles. Although results from APT support previous findings from CAPM about timberland investments, three bodies of evidence show that APT...

Public choice economics view legislative process as a transaction in the political market. Interest groups demand regulation in their favor and lobby lawmakers. The lawmakers analyze an assortment of factors and supply legislation to the winning group, thereby maximizing their rent from the...

Public choice economics view legislative process as a transaction in the political market. Interest groups demand regulation in their favor and lobby lawmakers. The lawmakers analyze an assortment of factors and supply legislation to the winning group, thereby maximizing their rent from the...

Capital asset pricing model (CAPM) and arbitrage pricing theory (APT) are used to assess the financial performance of eight forestry-related investment vehicles. Although results from APT support previous findings from CAPM about timberland investments, three bodies of evidence show that APT...

Subsidies for nonprice export promotion can harm domestic consumers by increasing price in the domestic market and by diverting funds from domestic market promotion. Taking these consumer impacts into account, we find that federal expenditures for nonprice export promotion of farm products may...