Applications of risk diversification strategies to conservation problems assume returns do not diminish with greater investment. Not accounting for diminishing returns may cause the allocation of investment to a single or limited target site, which may not reflect the fact that additional...

This research note documents estimation procedures and results for an empirical investigation of the performance of the recently developed spatial, heteroskedasticity and autocorrelation consistent (HAC) covariance estimator calibrated with different kernel bandwidths. The empirical example is...

This paper examines equilibrium properties of local jurisdictions implied by the Tiebout-style model. A set of equilibrium conditions are derived from a general equilibrium model of local jurisdictions. The conditions are parameterized and empirically estimated in a two-stage procedure. The...

This study compares an ordered probit model and a Tobit model with selection to take into account both true zero and protest zero bids while estimating the willingness to pay (WTP) for conservation easements in Macon County, NC. By comparing the two models, the ordered/unordered selection issue...

The impact of an urban growth boundary (UGB) on land development in Knox County, TN is estimated via two-stage probit and neural-network models. The insignificance of UGB variable in the two-stage probit model and more visible development patterns in the western part of Knoxville and the...

This paper examines land development using an integrated approach that combines residential decisions about choices of community in the Southern Appalachian region with the application of the GIS (Geographical Information System). The empirical model infers a distinctive heterogeneity in the...

Housing growth in Tennessee that incorporates spatial spillover and spatial heterogeneity at the level of census-block group is projected. A deterministic interpolation technique is adopted to create alternative neighborhood variables that captures spatial spillover of neighborhood effects on...

This paper examines land development using an integrated approach that combines residential decisions about choices of community in the Southern Appalachian region with the application of the GIS (Geographical Information System). The empirical model infers a distinctive heterogeneity in the...

We developed an economic demand model of wildlife hunting and found that sociodemograpahic and ecological characteristics of county are its strong predictors. Result shows that the hunting is not popular among younger generation; and promoting hunting clubs and lease-hunting, recruiting young...