While issues in estimating nonmarket values continue to cause concern, resource economists have more reason now than ever before to be optimistic. More progress toward improved measurement has been made in the past six years than in the previous quarter century since development of the...

The U.S. Congress and courts have directed federal natural resource agencies to use better information for management decisions than they have used in the past. It is also important for these agencies to improve the efficiency of resource use where possible. This information economics study...

This paper uses the Pagano-Hartley procedure to estimate the lag length and polynomial degree for the case of a quarterly hog supply equation. The results show that the nicely humped shapes which materialize when using the Almon lag may be caused by the failure in accounting for autocorrelation...

Functional form selection is a sometimes neglected aspect of applied research in production analysis. To provide an improved and uniform basis for form selection, a number of traditional and popular functional forms are catalogued with respect to intrinsic properties. Guidelines for the conduct...

Researchers have recognized the central role that the choice of functional form has on estimated of consumer surplus. The purpose of this paper is to quantify the magnitude of errors which might arise from the use of incorrect functional forms. It describes a simulation experiment where...