Economists have taken divergent approaches to incorporating on-site activities into their empirical specifications of site choice models. We develop a model that explicitly allows individuals to choose both on-site attributes and site activities. This model not only conditions the marginal value...

Urbanization often creates waterrelated externalities such as increased flooding and decreased groundwater recharge. Decreased recharge can lead to the diminution of potentially valuable groundwater. Groundwater’s ability to buffer water-supply shocks may be a substantial component of the...