This paper presents a model in which open space is assumed to provide external benefits to residents of adjacent municipalities, and utility-maximizing municipal planners are assumed to act strategically in recognizing the benefits of neighboring open space and planning their own open-space...

This paper examines strategies for cost-effective management of an endangered species: the Kirtland's Warbler. Population distributions as a function of rotation length are generated using a stochastic simulation model, and these distributions are used to find the rotation age that attains a...

To evaluate the impact of soil conservation on reservoir services, we extend replacement cost theory to cases where reservoir benefits are restored or preserved for multiple years. The framework is used to value the effect that a marginal change in soil erosion has on current and future...

Cropland retirement is one option for reducing agriculturally generated nonpoint source water pollution. This research estimated the welfare effects of cropland retirement in addressing U.S. surface water pollution problems. The social costs of retirement were evaluated with a programming model...

We study how increases in wealth from rapid appreciation of farmland influenced farmer decisions to borrow, buy land, and expand. Exploiting periods of high and low appreciation and a panel data model that allows for correlation between prior growth trends and the share of land owned, we find...