A new approach is under way for the research agenda of environmental valuation. Rather than treating stated preference (SP) and revealed preference (RP) as competing valuation techniques, analysts have started to view them as complementary, where the strengths of each approach can be used to...

In this paper, we discuss the importance of developing integrated assessment models to support the design and implementation of policies to address water quality problems associated with agricultural pollution. We describe a new modeling system, LUMINATE, which links land use decisions made at...

The purpose of this review and analysis is to provide a basic understanding of the issues related to worldwide hypoxic zones and the range of economic questions sorely in need of answers. We begin by describing the causes and extent of hypoxic zones worldwide, followed by a review of the...

Nonpoint-source pollution remains a troubling source of water quality problems despite decades of economics research on the matter. Among the chief difficulties for addressing the issue are the property rights assignments implicit in the current policy environment that favor agricultural...

The task of modeling the recreation demand for geographically large sites, such as rivers and beaches or large parks with multiple entrances, is often challenged by incomplete information regarding the access point used by the individual. Traditionally, analysts have relied upon convenient...

A major concern with tradable emission permits (TEPs) is that stochastic permit prices may reduce firm incentive to invest in abatement capital or technologies relative to other policies such as a fixed emissions charge. However, under efficient permit trading, the price uncertainty is caused by...

This study investigates the environmental impacts of several forms of policies that offer farmers subsides in return for the adoption of conservation tillage. The policies differ as to whether the tillage practice or one of several environmental benefits is targeted. We develop an Environmental...

Due to payoff uncertainties combined with risk aversion and/or real options, farmers may demand a premium in order to adopt conservation tillage practices, over and above the compensation for the expected profit losses (if any). We propose a method of directly estimating the financial incentives...

We investigate the environmental impacts of several forms of policies that offer farmers subsides in return for adoption of conservation tillage. The policies differ on whether the tillage practice or one of the environmental benefits is targeted. We develop an environmental Lorenz curve that...