The implicit price (hedonic) equation for the housing market in a coastal town in southern Rhode Island was estimated using a conditional Box-Cox maximum likelihood procedure. Linear, log-linear, and semi-log functional forms were rejected with 95% confidence. Estimates of marginal implicit...

It has been argued that the land-use restrictions prescribed by the Endangered Species Act have failed to protect endangered species on private land. Hence, there has been a call for using incentives to complement this regulatory approach. This paper ...