A real option analysis of dry-grind corn ethanol plants compared to a standard net present value analysis (NPV) shows that the option values increase entry prices and lower exit prices of investment and disinvestment considerably. For a large plant, the gross margin of ethanol price over the...

The analysis is based on an integrated climatic, agronomic and economic model of grain production in the midwestern region of the U.S. The model represents a typical farm and the objective is to select an optimum combination of cultivars for four crops (maize, soybean, wheat and sorghum)...

To date, much of the policy and research debate on contingent valuation mode effects has relied on experiences drawn from other research disciplines. This study provides the first contingent valuation phone-mail comparison that meets current standards for response rates, draws from a general...

The New York City Watershed Agricultural Program (NYCU7AJP) seeks to reduce the potential for phosphorus movement from farms to surface waters. Toward this objective, a "Phosphorus Index for Site Evaluation" P-Index) provides planners in the NYCWAP with a tool for identifying problems and...

Recent studies that compare the efficiency and distributional impacts of alternative instruments to curb sprawl typically ignore what to do with the revenues from anti-sprawl policies, such as development taxes. This paper extends first-best analysis of development taxes aimed at preserving land...