There has been considerable debate regarding which probability distribution best represents crop yields. This study ranks six yield densities based on their out-of-sample forecasting performance. The forecasting ability for each density was ranked according to its likelihood function value when...

In this article, we investigate the effect of several commonly used experimental designs on willingness-to-pay in a Monte Carlo environment where true utility parameters are known. All experimental designs considered in this study generated unbiased valuation estimates. However, random designs...