This paper argues that the belief that discrete contingent valuation (CV) questions yield substantially larger estimates of the mean (and the median) willingness to pay (WTP) for nonmarket resources in comparison to open-ended CV questions is unfounded. Monte Carlo experiments estimate the...

Many municipalities across the United States have turned to unit based pricing—also known as pay as you throw (PAYT)—as a vehicle for reducing municipal solid waste generation, increasing recycling, and promoting equity in paying for the service. In this paper, we reevaluate the standard...

A calibration strategy using ridge regression to generate more precise estimates for a particular parameter in a model is proposed. Formulae to compute the proposed ridge estimates from standard ordinary least squares (OLS) results are provided. The strategy is applied to recomputing marginal...

This paper exploits the seasonal and annual changes in marginal prices for water to estimate the price elasticity of demand by residential households for water. It uses the changes in distributions of water used at the census block group levels in response to changes in marginal prices of water...

Deciding how to allocate forage among animals is a fundamentally important process in range management. The wisdom of these decisions can be enhanced by estimating the marginal value of forage needed by competing species. We present a method for ...

The paper is concerned with developing a production theory for the case when some inputs have nonlinear prices because the price depends on endogenous quality. This involves extending the notion of a cost function to the case where nonlinear prices are ...

This paper extends the standard travel cost method (TCM) to develop estimates of the economic value of recreational chinook salmon fishing on the Gulkana River, Alaska, under existing and hypothetical fishery management conditions. Respondents were asked ...

Conclusions concerning trends in natural resource scarcity may depend critically on the choice of scarcity index. Unfortunately, the prevalence of vertical integration in natural resource industries has hindered the use of some otherwise desirable ...