The impact of government institutions on the value of improved climate forecasts is examined. Results suggest that crop insurance and earned income tax credit have little effect on the expected change in after-tax cash flows. Federal tax law has only a modest influence. As expected, the disaster...

Optimal production and marketing decisions for a nursery producing ornamental plants from a container-based production system are determined. The stochastic dynamic programming model developed captures the existence of a value-added, serial-stage production process with multiple products and...

Instead of creating water supply systems that fully insulate mankind from climate-imposed water deficiencies, it is possible that for municipal water systems a nonzero probability of water supply shortfall is efficient. Perfect water supply reliability, meaning no chance of future shortfall, is...

This article reviews the major contributions of agricultural and resource economists in the area of econometrics over the past 100 years. Early on, a number of agricultural economists were in on the ground floor in terms of developing new econometric methods. Over time as the economics...