The 1978 Public Utility Regulatory Policies Act set energy conservation and efficient, equitable electricity rates as national goals. The decision on whether to implement innovative rates to meet these goals was turned over to state public service commissions, but not all states implemented the...

Numerous studies have estimated hedonic price functions for durable goods. In this paper, the authors apply the methodology to breakfast cereals, a nondurable good. They employ maximum likelihood to estimate the hedonic price functions using data from three large supermarkets. The price function...

An integrated economic/ecological model is built to address tradeoffs between biodiversity conservation and two marketable rangeland ecosystem services: cattle grazing and elk hunting. The ecology is represented by an eleven species food web in which individual optimizing plants and animals...

Failure time models correcting for heterogeneity are used to explain the length of participation in a risky career. Using data from t he National Football League, the authors first employ a class of techniques whic h ignore unobserved heterogeneity; hence these methods impose severe restriction...

This paper presents a self-contained survey of club theory with an emphasis on the contributions of the last fifteen years. Club goods are contrasted with pure public goods, and equilibrium and optimality notions are contrasted. After presenting three basic representations of club theory, the...

In an integrated economic/ecological model, the economy benefits from ecosystem services that include: (1) the consumptive use of a harvested species, (2) the non-consumptive use of popular species, and (3) naturalness, i.e., the divergence of the ecosystem’s biodiversity from its natural...