Utilizing daily instantaneous forward rates of nominal and inflation-indexed bonds as well as realizations of stock and bond index returns, I examine the informational content of a broad set of macroeconomic announcements. I find evidence that, with a few exceptions, price variables mainly move...

This dissertation is a series of three essays exploring the determinants and effects of enrollment in the United States Department of Agriculture's (USDA) Conservation Reserve Program (CRP). The CRP is the United States' largest federal conservation program, currently enrolling over 34 million...

Paul David (1985), Brian Arthur (1989) and others introduced a 'new economics' of increasing returns, alleging problems of path dependence and lock-in. These conditions were claimed to constitute market failure and were soon featured in antitrust actions, most famously in Microsoft. We (1990,...

This paper examines the economic logic underlying bundles and tie-in sales and uses the lessons learned from that examination to analyze seven specific instances of bundling that have been the subject of antitrust scrutiny or other policy initiatives. We are particularly interested in products...

The purpose of this dissertation is to investigate dual approaches to corner solutions that are both tractable and flexible in recreation demand. Two structural models are estimated using data from the Iowa wetlands survey in the incomplete demand system context. This dissertation expands...

Leisure activities such as local recreation trips usually take place in discrete blocks of time that are surrounded by time devoted to other commitments. It can be costly to transfer time between blocks to allow for longer outings. These observations affect the value of time within those blocks...

"Leisure activities such as local recreation trips usually take place in discrete blocks of time that are surrounded by time devoted to other commitments. It can be costly to transfer time between blocks to allow for longer outings. These observations affect the value of time within those blocks...

Most economic models for time allocation ignore constraints on what people can actually do with their time. Economists recently have emphasized the importance of considering prior consumption commitments that constrain behavior. This research develops a new model for time valuation that uses...