A theoretical model of farmland valuation is developed to explicitly account for three effects of urban sprawl: conversion of farmland to urban uses, effect on agricultural returns, and speculative effect as represented by farmland conversion risk. This model is estimated using county-level data...

This paper develops a partial equilibrium model of a small open-economy producing and trading an unsafe product that is supplied by perfectly competitive producers. The presence of product safety considerations, in this case risks to health, introduces a wedge between the market prices producers...

The advent of mad cow disease in Canada and in the United States raises numerous concerns regarding consumer reaction to information in the United States. To examine the role of consumer reaction to information we examine the response of price spreads in the U.S. beef market to a Food Safety...