Ferraro and Simpson (2002) argue that when markets are competitive, direct payments for environmental services are more cost effective in achieving environmental goals than indirect payments, say, for capital. However, when eco-entrepreneurs face non-price rationing in input or output markets,...

This paper updates Baltagi's (2003, Econometric Theory 19, 165-224) rankings of academic institutions by publication activity in econometrics from 1989-1999 to 1989-2005. This ranking is based on 16 leading international journals that publish econometrics articles. It is compared with the prior...

This paper examines the consequences of model misspecification using a panel data model with spatially autocorrelated disturbances. The performance of several maximum likelihood estimators assuming different specifications for this model are compared using Monte Carlo experiments. These include...

Over the past 30 years, governments have sought to stimulate improvements in new car fuel economy to contribute to air quality, energy security and climate change goals. We analyse the demand for new car fuel economy in the UK using a two-stage econometric model to investigate the drivers of...

This paper employs a choice experiment to estimate the value of management options for the Bobrek wetland in Poland. The local public’s valuation of several wetland management attributes, including flood risk reduction, biodiversity conservation and improvement of recreational access, are...

This paper undertakes a direct comprehensive assessment of the long-run sustainability of one the world’s largest sustainable development programs, the Slopping Land Conversion Program (SLCP) in China under different plausible post-SLCP scenarios. The analysis is based on farmer contingent...

Since Communism collapsed at the end of the 1980s, the transition towards a market-based economy has been considerably influenced by the neoclassical economic approach to the reform process. This has often ignored the establishment of adequate institutional frameworks, resulting in high...