This paper examines the consequences of using a static model of recreation trip-taking behavior when the underlying decision problem is dynamic. In particular, we examine the implications for trip forecasting and welfare estimation using a panel dataset of Lake Michigan salmon anglers for the...

The decision to adopt a potentially profitable but unfamiliar conservation technology is cast in a multi-period Bayesian framework. Specifically, dairy farmers who are both risk-averse and susceptible to peer group influence progressively learn about the true impact of adopting reduced...

Nutrient emissions from animal feeding operations continue to degrade water and air quality. New regulations will limit the amounts of nutrients that can be locally applied to land. In this article, a structural-dynamic model of a livestock-crop operation is calibrated with data from a...

This analysis extends previous work on green insurance by proposing a mechanism that offers a stronger adoption incentive and is applicable to heterogeneous populations and non-binary adoption decisions. Endogenous learning about the new technology is incorporated, and empirically calibrated...

We develop a stochastic-dynamic model of technology adoption that imposes fewer restrictions on behavior than do previous studies of similar decision problems. Like these previous studies, our model is forward-looking and can be used to demonstrate the additional "hurdle rate" that must be met...

The decision to adopt a potentially profitable but unfamiliar conservation technology is cast in a multi-period Bayesian framework. Specifically, dairy farmers who are both risk-averse and susceptible to peer group influence progressively learn about the true impact of adopting reduced...

Animal waste from concentrated animal feeding operations (CAFOs) is a significant contributor to the nitrate contamination of groundwater. Some manures also contain heavy metals and salts that may build up either in cropland or groundwater. To find cost-effective policies for pollution reduction...

This study investigates the effect of introducing a fiscally neutral increasing block-rate water budget price structure on residential water demand. We estimate that demand was reduced by at least 18 percent, although the reduction was achieved gradually over more than three years. As...

A micro-dynamic model of a livestock-crop operation is calibrated with data from a representative dairy in California's Central Valley and is used to predict the effects of regulations designed to reduce nitrogen emissions. Policy simulations clarify the importance of dynamic elements and...

This paper examines the consequences of using a static model of recreation trip-taking behavior when the underlying decision problem is dynamic. In particular, we examine the implications for trip forecasting and welfare estimation using a panel dataset of Lake Michigan salmon anglers for the...