Records of rental agreements for agricultural land in England between 1690 and 1914 are used to develop an annual rental price index for agricultural land. This index displays a long run cointegrating relationship with indices for the price of agricultural output and agricultural wage rates. A...

According to household production function theory households combine marketed goods and nonmarket environmental goods to produce service flows of direct value to the household. This readily explains why, as an input to household production activities, households might have preferences over the...

According to household production function theory households combine marketed goods and nonmarket environmental goods to produce service flows of direct value to the household. This readily explains why, as an input to household production activities, households might have preferences over the...

We analyse the influence of climate on average life satisfaction in 79 countries using data from the World Values Survey. Climate is described in terms of ‘degree-months’ calculated as the cumulated monthly deviations from a base temperature of 65°F (18.3°C). Our results suggest that...

Despite the importance of as comprehensive as possible damage cost estimates to cost benefit analyses of global attempts to reduce greenhouse gas emissions, few researchers have attempted to monetize the direct impact of climate change on households. This study uses the hedonic technique to...