The paper uses data from one Conservation Reserve Program (CRP) auction to elicit farmers' attitudes toward the environment by analyzing their bids. The CRP pays farmers to remove chosen plots of land from agricultural production and put them to a conservation use. An interesting aspect of this...

The objective of this paper is to develop an analytical framework for the estimation of parameters of a structural model of an incentive contract under moral hazard, taking into account agents heterogeneity. We show that allowing the principal to strategically distribute the production inputs...