Deregulation and reregulation of transportation is one of the most significant policy developments of recent years. It is important to understand the impacts of such changes on the availability of transportation services to agriculture, small communities, and rural areas. In this paper the...

A theory-based participation model is developed using the assumptions of perfect capital markets and perfect information. Given this specification it is shown that participation in a PDR program is always equivalent in present value terms to selling the land, and is always at least as good as...