On the nation’s largest aquifer live 2.3 million people, most of whom depend on the Ogallala’s water for household consumption, as well as for agricultural and industrial use. As the Ogallala’s levels decline, policies need to be developed to encourage conservation of this resource that...

The study evaluates the gains of avoiding data-dependent specification search on an estimation sample in an application to discrete choice models. We incorporate data splitting, the process by which the total available sample is randomly split in two or more sub-samples with the first...

Due to payoff uncertainties combined with risk aversion and/or real options, farmers may demand a premium in order to adopt conservation tillage practices, over and above the compensation for the expected profit losses (if any). We propose a method of directly estimating the financial incentives...