We develop and apply a new method for estimating the economic benefits of an environmental amenity. The method is based upon the notion of estimating the derived demand for a privately traded option to utilize an open access good. In particular, the demand for state fishing licenses is used to...

Economists have expended considerable effort to develop economically meaningful definitions of the somewhat elusive concept of “sustainability.” We relate such a definition of sustainability to well known concepts from neoclassical economics, in particular, potential Pareto improvements (in...

This study estimates the profitability of double-cropping systems as a source of livestock feed and the cost per ton of dry matter as source of lingocellulosic feedstocks for ethanol production. Crop yields were measured from full season and winter wheat double-crop plot trials at the Purdue...