To evaluate the impact of soil conservation on reservoir services, we extend replacement cost theory to cases where reservoir benefits are restored or preserved for multiple years. The framework is used to value the effect that a marginal change in soil erosion has on current and future...

When estimating hedonic models of housing prices, the use of time series cross-section repeat sales data can provide improvements in estimator efficiency and correct for unobserved characteristics. However, in cases where serial correlation is present, the irregular timing of sales should also...

The TOBIT estimator of the linear model is commonly used to control for censoring. However, when predicting either demand or consumer surplus, simply substituting the resulting coefficient estimates back into the linear functional form is incorrect. This failure stems from the non-linear impact...

U.S. farmers and ranchers produce a wide variety of commodities for food, fuel, and fiber in response to market signals. Farms also contain significant amounts of natural resources that can provide a host of environmental services, including cleaner air and water, flood control, and improved...

Federal programs may encourage farmers to convert native grasslands—land that has never been cultivated — to production of corn, soybeans, and other crops, leading to potential losses of Northern Plains' native grasslands. Federally subsidized crop insurance reduces risk associated...

This article examines the importance and value of attending the annual summer conference of the Agricultural and Applied Economics Association (AAEA) by U.S. Federal government economists. A choice-based conjoint analysis of government funding of five research-facilitating resources, including...

In this paper we demonstrate how satellite images and other geographic data can be used to predict land use. A cross-section model of land use is estimated with data for a region in central Mexico. Parameters from the model are used to examine the effects of reduced human activity. If variables...

This article introduces a multinomial logit model that uses ancillary information to control for uncertainty in both the observed choices made by respondents, and in the attributes of a respondent's choice set. Simulated data are used to compare the performance of this estimator versus simpler...

Farmers in the United States produce a wide variety of commodities for food and fiber. Farmers can also produce a variety of non-commodity ecosystem services for which markets do not exist or are imperfectly formed. Such services may be valued by society, but due to their nature or institutional...