We estimated a hedonic model to explain variations in residential sales price with standard house attributes, such as number of bedrooms and square feet of living space, as well as the effects of distance and density of livestock feeding operations. We find that livestock operations have an...

The electric power industry has become increasingly interested in the value customers place upon service reliability, with the demand for reliability couched in terms of outage or shortage costs. The survey-based method of eliciting these costs dominates the literature. This paper explores and...

This paper examines three points concerning the variances of consumer welfare measures: (1) the size of variance estimates depend on the assumed source of error, (2) the precision of welfare estimates (as measured by the coefficient of variation) generally falls with an increase in the size of...

This paper presents the results of an empirical study of the cost savings associated with a marketable permit system for light-duty vehicles relative to the current system of uniform standards. The sensitivity of cost savings estimates to model specification are examined, including estimation...