In small coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from households from accessing the beach for leisure or recreational...

Agency theory assumes that tighter monitoring by the principal should motivate the agent to raise his effort level. In contrast, the “crowding-out” literature suggests that tighter monitoring may reduce the overall work effort. These two assertions are not necessarily contradictory provided...

We estimate the economic values of Saginaw Bay coastal marshes with multiple methods. First we estimate the value of coastal marsh recreation with two variations of the travel cost method: the single-site recreation demand model and the recreation site selection or random utility model. Using...

Research investigating risk preference has pointed towards motivation and ability as important factors for determining the strength and likelihood of the framing effect. In the current study we explored the influence of individual differences in motivation and ability through circadian rhythm....

Regional trade agreements (RTAs) and currency unions (CUs) share the characteristic of being poten- tially endogenous proxies for trade costs in gravity equations. In both cases, this problem is magnified by the paucity of reliable instruments. Instead of resorting to the oft-employed...

Wetlands have functional values that may extend beyond traditional real estate values. This paper uses contingent valuation and ecological field assessments to place heterogeneous values on heterogeneous wetlands. Wetland functions evaluated are water quality, habitat, recreation, storing...

Cross sectional employment data is not random. Workers who survive to a longer level of tenure tend to have a higher level of productivity than those who exit earlier. Wage equations that use cross sectional data could be biased from the over sampling of high productive workers at long levels of...