This paper provides a micro-level foundation for discussions of income and asset allocation within the smallholder sector in Eastern and Southern Africa, and explores the implications of these findings for rural growth and poverty alleviation strategies in the region. Results are drawn from...

The effect of risk on farmland values and returns is analyzed using a capitalization model. County-level models are estimated using spatial econometric techniques. Our results show that riskier regions and growing conditions have both lower land values and higher risk-adjusted rates of return to...

A hedonic price model suggests that flooding and erosion hazards, and the actions taken against them, are major determinants of property values in American coastal areas. A zoning ordnance against new construction within the 60-year erosion hazard area would increase property values and perhaps...

Land-use restrictions are frequently applied to separate polluting from non-polluting activities. In contrast to the existing literature, we incorporate spatial and intertemporal aspects of the problem simultaneously and determine the border of the zones endogenously. The results, based on a...

This is a revised copy of Staff Paper 200-48

In this paper we present a preliminary analysis of whether and how spatial variation in environmental attributes affects the residential sorting of households with heterogeneous preferences. An important implication of such sorting arises if variation in preferences over environmental attributes...

Landowner characteristics influence his/her willingness to change landuse practices to provide more or less environmental benefits. However, most studies of agricultural/environmental polices identify landowners as homogenous. And, the primary cause of failure of many environmental and other...

Local schools are primarily funded through local property tax revenues, which are tied to property values and the distribution of value ranges within a community. Values, in turn, depend on the mix of lot sizes and building attributes (improvement characteristics), which are affected by zoning....

Genetically modified (GM) cotton varieties have changed many aspects of cotton production in the United States. The advent of GM varieties has fueled the ongoing trend of increasing farm size and fewer farmers. Mississippi is no exception to this trend. The rapid adoption of GM cotton varieties...

This paper develops a model to examine the impacts of uncertainty about crop production and irreversibility of program participation on determining land rental payments and least-cost land retirement targeting in the Conservation Reserve Enhancement Program. Results show that under risk aversion...