We specify a system of equations that fully reflects the supply and demand sides of the market for agricultural open space at equilibrium. Although simple, the system is exceedingly flexible and allows for household and parcel heterogeneity. We derive an empirical model directly from the...

"Researchers are increasingly considering benefit transfer approaches that allow welfare measures to be adjusted for characteristics of the policy context. The validity and reliability of such adjustments, however, depends on the presence of systematic variation in underlying WTP. This paper...