A real options model is used to explain why Irish farmers have been slow to switch from traditional farming to forestry despite numerous government incentives. In the theoretical model our results depend on profits from traditional farming relative to forestry. Under reasonable parameterisations...

Previous studies that have attempted to model the participation decision of farmers in agrienvironmental schemes have used a static framework where it was not possible to examine changes in the participation decision of farmers over time. This is rectified in this paper by utilising an 11 year...

In this paper, we present an extension of Shaw’s (1988) and Englin and Shonkwiler’s (1995) count data travel cost models corrected for on-site sampling to a panel data setting. We develop a panel data negative binomial count data model that corrects for endogenous stratification and...