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

The focal point of the revealed preference (RP) valuation literature, including recreation demand and random utility maximization (RUM) models, has been on eliciting the “use” value associated with environmental amenities; i.e., that portion of value associated with direct use of a resource....

The study evaluates the gains of avoiding data-dependent specification search on an estimation sample in an application to discrete choice models. We incorporate data splitting, the process by which the total available sample is randomly split in two or more sub-samples with the first...

In this research, we propose a framework to connect SWAT model with a dynamic discrete choice based land use model. With the recent years of cropland data layers published by NASS, USDA and data complied from other sources, we apply this framework to land use change in Upper-Mississippi River...

A dynamic land use model, more specifically a dynamic discrete choice model, is developed in this paper to model Iowa farmers' crop choice decisions in recent years based on the newly released field-scale cropland data layers by National Agricultural Statistics Service. We explicitly consider...

This paper studies the welfare impact of alternative scenarios of trade protectionism and liberalization in Argentina. The impact of the different trade policies is assessed in two different ways. We first use the multi-sectoral and multi-regional computable general equilibrium MIRAGE model to...

We conduct models and tests to ascertain whether there are speculative bubbles and which factors contribute to the bubbles if there exits one. In the model, we use the option value to represent the investment value of farm real estate and compare the option value, calculated from dynamic...

Nanotechnology has tremendous potential in food and agriculture. Few economic studies focused on specific products made using nanotechnology, let alone food or food related products. Using a national choice experiment survey, this analysis examines consumers’ valuations for nano-attributes. As...