This paper utilizes a polychotomous choice function to investigate the relationship between socioeconomic characteristics and willingness-to-pay for embedded environmental attributes. Specifically, a two-stage estimation procedure with an ordered probit selection rule is used to predict the...

The United States embarked on a policy assuming excess demands for commodities are elastic. Some analysts question the success of that policy and argue that excess demands for farm commodities are inelastic. The controversy is deepened because the two traditional techniques for determining...

Using overcharge estimates for 395 cartel episodes from the 18<SUP>th</SUP> to the 21<SUP>st</SUP> century, we evaluate the impact of cartel characteristics on the size of overcharges imposed by cartels across several geographic regions and antitrust law regimes. The results of our study have important policy...</sup></sup>

The purpose of this study is to evaluate potential changes in the length of product life cycles in the US seed corn industry. We use the observed survival time on the market for hybrids sold during 1997-2009 to conduct a survival analysis. Our empirical results show that the average lifetimes of...

Due to high losses of agricultural land in urbanizing areas over the past several years, state and local governments have adopted zoning regulations, right-to-farm ordinances, preferential property tax programs, and other means to protect agricultural land resources. Critics of the farmland...

Portfolio value‐at‐risk (PVAR) is widely used in practice, but recent criticisms have focused on risks arising from biased PVAR estimates due to model specification errors and other problems. The PVAR estimation method proposed in this article combines generalized Pareto distribution tails...

The purpose of this study is to evaluate potential changes in the length of product life cycles in the US seed corn industry. We use the observed survival time on the market for hybrids sold during 1997-2009 to conduct a survival analysis. Our empirical results show that the expected lifetimes...