This article analyzes the impact of removing the U.S. tobacco program in both a partial and general welfare economics framework. In a partial-equilibrium framework, a consumer taxfunded quota buyout can result in producer gains, consumer losses, net losses resulting from higher prices, and...

In this article, possible use of climate forecasts in rainfall index insurance of hay and forage production is considered in a geographical area (southeast United States) relatively heavily impacted by the El Nino Southern Oscillation (ENSO). Analysis of the stochastic properties of rainfall,...

Remarkable changes have occurred over the years in the domestic and international economic environment of the fruit and vegetable industry. These changes are partly driven by the North American Free Trade Agreement, nutrition policies, and development and enforcement of new food safety...

Socioeconomic factors influencing consumer demand for nursery products and landscape projects were investigated using consumer survey data collected from North Carolina in 2008. Tobit models were estimated for censored dependent variables, budget expenditure shares on nursery products, and...

We present a demonstration of a Bayesian spatial probit model for a dichotomous choice contingent valuation method willingness-to-pay (WTP) questions. If voting behavior is spatially correlated, spatial interdependence exists within the data, and standard probit models will result in biased and...

An extension of the Guerrero et al. (2010) net present value (NPV) analysis using real options analysis (ROA) is offered to improve machinery replacement decisions. Specifically, the feasibilities of replacing natural gas irrigation systems with either electric or hybrid (electric/wind) systems...