This paper describes the first use of a methodology based on a utility-theoretic behavioral model to simultaneously estimate a household's WTP for a non-market good in both money and a non-monetary numeraire good. WTP by subsistence farmers in Namibia for deterrents to wildlife attacks on crops...

Vessel operators maximize expected utility indirectly through cost-minimizing production decisions subject to stochastic harvests. Data on the Atlantic longline fleet, available from NMFS logbooks, is used for the empirical analysis. An ex ante multi-input cost function that incorporates...

This paper ascertains the costs and benefits of diverting water from the Senegal River. Two scenarios are compared to the status quo of inaction: the social planner and the competitive scenarios. Although these two scenarios yield positive present values of net benefits, the social planner...

This research aims to further the understanding of price behavior in predominantly agricultural water markets through a hedonic estimation of the impact of market and product attributes on water rights prices in the Cachapoal River Valley of South-Central Chile. It is hypothesized that the price...

This paper proposes an approach to welfare measurement with random utility models that, in contrast to traditional approaches, incorporates the implications of an individual's observed choice.

The purpose of this paper is to model farmer behavior with respect to in situ conservation, extending the existing literature beyond competition within the principal crop to encompass a broader definition of on-farm diversity and testing the hypothesis that factors affecting the principal crop...

This paper examines the joint agro-wildfowl regulation of the Tule Lake National Wildlife Refuge in California. The area is jointly managed by the Bureau of Reclamation for both farming and wildfowl benefits. Production in both sectors has been declining recently, in farming due to nematode and...

An individual's rate of time preference is an important consideration for individuals deciding whether to support a public good since the benefits of a public good often come in the future. Our study finds individual discount rates from a contingent valuation method (CVM) question where the time...

Many natural systems have the potential to switch between alternative dynamic behaviors. We consider a system with two distinct equations of motion that are separated by a threshold value of the state variable. We show that utility maximization will give a decision making rule that is consistent...