The cost of travel time has commonly been incorporated in recreation demand models as some fucntion of the wage rate. This paper proposes a new methodology of determining the value of leisure time. The proposed method is compared to other alternatives and shown to yield more appropriate welfare...

We examine starting point bias in CV surveys with dichotomous choice payment questions and follow-ups, and double-bounded models of the WTP responses. We wish to investigate (1) the seriousness of the biases for the location and scale parameters of WTP in the presence of starting point bias; (2)...

Yield variability can be significantly higher at the farm level than at more aggregated levels, including the county. However, due to a dearth of available farm level data, much stochastic analysis involving farm yields utilizes more aggregated yield data as a proxy for the farm level. We...

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We...