In this paper we propose a scheme to control non-point source water pollution that employs subsidies to foster voluntary cooperation among farmers and, in that respect, is aligned with the traditional reliance in US water quality policy on voluntary programs aimed at persuading farmers to use...

Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a...

Three theoretical non-point water pollution control schemes were tested repeatedly in experimental studies – tax-subsidy scheme (K. Segerson, 1988), collective fining (Xepapadeas, 1991) and random fining (Xepapadeas, 1991). Camacho and Requate (2004) summarized results reported by Spraggon...

Our study uses the data collected during the implementation of the tobacco buyout program inKentucky to evaluate how rural households, diverse in income, age, family structure, location,education level, and other characteristics, made a choice between annuities and a lump-sumpayment. Subjects in...

The tobacco buyout program affected a number of southern states, including Kentucky, providing a unique opportunity to study how individuals actually make choices involving large sums of money. This natural experiment, allowed us to measure the personal discount rates for Kentucky tobacco...

Prior research suggests that in an urban setting the share of women in total entrepreneurial activity still lags behind the share of women in the labor force, and that female entrepreneurship may be influenced by different factors than male entrepreneurship. This paper investigates whether males...

The paper analyzes exit decision by tobacco farmers in the wake of tobacco buyout program in Kentucky. A data set collected through surveying Kentucky tobacco farmers is used to estimate a logit model representing the probability of exit as a function of farm-specific characteristics. The...

There are many expenditure options available to farmers who received a tobacco buyout check. We used a multinomial probit model to analyze how farmer, business, and household characteristics influenced the choice of expenditure option. We found that farmers tend to use the tobacco buyout...