Conservation reserve program (CRP) payments amount to several billion dollars annually. Payments are allocated to both remove land from production and to help farmers pay for conservation improvements. However, research examining whether farmers increase their utility with CRPs is limited. This...

The 2002 Farm Bill creates several opportunities for landowners to adopt management practices that protect and improve soil and water quality. Landowners considering enrollment in conservation programs must compare the monetary and nonmonetary costs and benefits from removing land from...

Numerous studies have shown that compensation demanded (CD) to give up a commodity often greatly exceeds willingness to pay (WTP) to obtain the same commodity, even in incentive compatible experiments that penalize strategic misrepresentation. Observed CD/WTP disparities are too large to be...

ABSTRACT The problem of project selection is of significant importance in management of information systems. Almost $2 trillion is spent worldwide every year on IT projects, with over $600 billion spent in the US alone. Traditionally, managers have being using the classical net present value...

This research proposes a normative approach in two infrastructural manufacturing decisions: quality and product development. Quality, as employed in the research, is defined as satisfying customer needs given a market segment. Product defects lead to customer dissatisfaction and have a negative...

We argue for greater recognition of the risky nature of most policy decisions. In this context we discuss the gulf between public risk perceptions and attitudes and those of 'experts'. Public views of risk are often inconsistent and seemingly irrational. They nevertheless influence policy...

In all large engineering projects, valuation constitutes an important step during the initial stage as each stakeholder assesses the prospect of his or her investment. The complexity of valuation increases dramatically in the face of uncertainty especially when the risks are dynamic and...

A long period of rig scarcity and high rates has led to innovation in the procurement of rig services and in relationships between oil companies and rig contractors. Discussions have been conducted on joint ventures between companies and contractors, for instance. This paper describes and...

Cropping in low-rainfall regions can be risky business. Farms are often characterized by high climatic and spatial variability, while input prices, particularly nitrogen (N) fertilisers, are rising steadily relative to grain prices. Consequently, in anticipation of having a poor season, farmers...

Under the Mac Sharry and Agenda 2000 reforms, direct payments comprised a significant portion of farmers’ income in the EU. Farmers had to engage in production to receive these payments but the payments were relatively risk-free and therefore risk may not have played an important role in the...