An hedonic spatial equilibrium model of the European Union dairy sector is used to evaluate the interregional impacts of eliminating milk production quotas under a variety of domestic policy (intervention prices and domestic production/consumption subsidies) and trade policies (tariff rate...

This paper considers the revealed preference implications of a fairly general optimization hypothesis under any finite number of constraints. It extends S. N. Afriat's seminal nonparametric analysis. The usefulness of the results are illustrated in two examples. Copyright 1993, the President and...

Sunk costs play a significant role in shaping industry conduct and development outcomes associated "with the resource extraction sector. Their role is explored here by: (1) developing analytical models that show specifically how sunk costs influence investment behavior and outcomes; and (2)...

"This paper investigates the effects of wheat genetic diversity and land degradation on risk and agricultural productivity in less favored production environments of a developing agricultural economy. Drawing production data from household survey conducted in the highlands of Ethiopia, we...