Previous studies have suggested that market failures are household-specific and not commodity-specific (de Janvry et al, 1991); transaction costs determine whether a household is a buyer, seller or self-sufficient for a given good and how much it is going to produce (Key et al, 2000). Focusing...

Commercial fishing involves both physical and financial risks. This combination questions whether fishermen are inherently risk-loving, whether physical and financial risk preferences are correlated, and how much preferences vary across fishermen. This paper addresses these questions with a...

Both quantity of horses and quality stimulate demand for horse race gambling. This paper addresses the potential for a quantity/quality tradeoff due to breeding incentives for California thoroughbreds. Econometric analysis is used to assess the demand for quality and quantity of horses, and...

Life history models can include a wide range of biological and ecological features that affect exploited fish populations. However, they typically treat fishing mortality as an exogenous parameter. Implicitly, this approach assumes that the supply of fishing effort is perfectly inelastic. That...

Both quantity of horses and quality stimulate demand for horse race gambling. This paper addresses the potential for a quantity/quality tradeoff due to breeding incentives for California thoroughbreds. Econometric analysis is used to assess the demand for quality and quantity of horses, and...