This paper has two objectives. First, we identify a problem with the ability of the discrete-continuous choice (DCC) framework and conditional demand functions to fully describe consumer preferences in the presence of kinked budget constraints. Second, we propose and illustrate an alternative,...

This paper has two objectives. First, we identify a problem with the ability of the discrete-continuous choice (DCC) framework and conditional demand functions to fully describe consumer preferences in the presence of kinked budget constraints. Second, we propose and illustrate an alternative,...

Across western North America, invasive plant species and elevated levels of nitrogen are threatening the productivity of rangelands. A bioeconomic model of stocking cattle on these rangelands is used to show that optimal stocking depends on the competition between native grasses and the...