Under the Clean Development Mechanism (CDM) of the Kyoto Protocol, forest projects can receive returns for carbon sequestration via two credit instruments: temporary (tCERs) or long-term certified emission reductions (lCERs). This article develops a theoretical model of optimal harvesting...

This paper examines how domestic and foreign tobacco regulations affect tobacco trade flows and consumer health in importing countries. We develop a gravity equation incorporating domestic and foreign tobacco regulations into a country’s tobacco import demand. We estimate the bilateral trade...

For over the last thirty years the multinomial logit model has been the standard in choice modeling. Development in econometrics and computational algorithms has led to the increasing tendency to opt for more flexible models able to depict more realistically choice behavior. This study compares...

We analyze consumers’ demand for mint gum accounting for product heterogeneity and unobservable, to the econometrician, flavor quality. We use the control function (CF) approach in the context of a discrete choice logit model in an oligopolistic framework, where price-setting firms...

The IFAMR is published quarterly by the International Food and Agribusiness Management Association (IFAMA). www.ifama.org

We show in this paper that instability is an intrinsic cause of production variability in a dynamic inventory system. We first show that a unique stationary optimal policy exists for both full-backlog and lost-sales case and under the policy a firm replenishes its inventory to a constant target...

Opportunistic behavior in crop insurance can arise due to asymmetric information between producers and the Federal Crop Insurance Corporation. Producers who insure fields using transitional yields based on county average yields or who select options such as buy-up coverage or revenue insurance...

A structural inter-temporal model of agricultural asset arbitrage equilibrium is developed and applied to agriculture in the North-Central region of the U.S. The data is consistent with a unifying level of risk aversion. The levels of risk aversion are more plausible than previous estimates for...

Washington voters passed Initiative Measure No. 688 on November 3, 1998. This bill increased Washington’s minimum wage to $5.70 on January 1, 1999.and to $6.50 on January 1, 2000. The Initiative required that future annual changes in Washington’s minimum wage be indexed to inflation in the...