Complexity of environmental programs is most apparent with information asymmetries, making the design of efficient mechanisms particularly challenging. As developed theoretically in this paper, a new regulatory capitalism paradigm mating voluntary agreements with environmental education can...

Water quality trading (trading) as a means to improve water quality has become an increasingly popular instrument considered by environmental policy makers. Although the U.S. Environmental Protection Agency lists more than forty current trading programs in the U.S., only a few active markets...

This study examines the interaction between insurance, credit and liquidityconstraints using a stochastic dynamic model. A risk averse farmer whoseobjective is to manage both production and market risk is assumed tomaximize the expected utility of life-time consumption by using both arearevenue...

One of the major shortcommings of past environmental Kuznets curve (EKC) studies is that the spatiotemporal aspects within the data have largely been ignored. By ignoring the spatial aspect of pollution emissions past estimates of the EKC implicitly assume that a region’s emissions are...

Using estimation of demand for the George Washington/Jefferson NationalForest as a case study, it is shown that in a stratified/clustered on-sitesample, latent heterogeneity needs to be accounted for twice: first to accountfor dispersion in the data caused by unobservability of the process that...

This paper explores the influence of demographic and spatial variables on individual participation and consumption of wildland area recreation. Data from the National Survey on Recreation and the Environment are combined with geographical information system-based distance measures to develop...

The assumption of independence of irrelevant alternatives in a sequential contingent valuation format should be questioned. Statistically, most valuation studies treat nonindependence as a consequence of unobserved individual effects. Another approach is to consider an inferentialprocess in...

Estimating regional demand models by pooling different samples without correcting for such differences causes model misspecification as each sample belongs to a different population. Weighted regression using Pseudolikelihood to account for differences in sample population with adjustment for...

Although mixed logit models are common in stated preference applications, resulting welfare estimates can be sensitive to minor changes in specification. This can be of critical relevance for policy and welfare analysis, particularly if policymakers are unaware of practical implications. Drawing...