Thirty years ago, our paper entitled "The High Cost of Regulating U.S. Railroads" appeared in this journal. At the time, the Staggers Act had just been signed into law. Our paper provided an analysis of the U.S. railroad industry's performance for the generation immediately preceding the...

We develop and demonstrate models that combine engineering and statistical approaches to estimating customer-specific end-use load curves. Simulated end-use loads from engineering methods enter as explanatory variables in statistical models, and estimated parameters adjust the engineering loads...

A Bayesian variable selection procedure is used to control for uncertainty in the specification of a recreational demand model. Specifically, we propose a model that draws on the Bayesian paradigm to integrate the variable selection process into model estimation and to reflect the accompanying...

Standard procedures for extractingwillingness-to-pay (WTP) from dichotomouschoice CV questionnaires rely heavily uponparametric assumptions regarding thedistribution and form of WTP in the sampledpopulation. However, theory provides littleguidance regarding which parametricspecification to use...

We investigate the extent to which dichotomous choice referenda responses are shaped by whether the individual believes the survey itself will ultimately impact policy. Using survey data from the Iowa Lakes Project, we test this supposition. Specifically, we employ a Bayesian treatment effect...