Previous research has reached inconsistent, if not paradoxical, conclusions regarding the impact of conservation easements on farmland prices. Expectations of price reductions, strongly grounded in economic theory, are not always observed.We develop a hedonic model to examine the sale prices of...

Because requisite micro data frequently are unavailable, it is common practice to use aggregate data to estimate economic relationships representing the behavior of individual agents. A substantial body of literature has examined conditions under which inferences between micro and aggregate...

Green payment programs, where the government pays farmers directly for environmental benefits, are an alternative to the current method of achieving environmental benefits which restricts farming practices in exchange for deficiency payments. This article presents a voluntary green payment...