Land use changes to sequester carbon also provide ﾓco-benefits,ﾔ some of which (for example, water quality) have attracted at least as much attention as carbon storage. The non-separability of these co-benefits presents a challenge for policy design. If carbon markets are employed,...

In this study, we estimate empirically the multiple benefits of a subsidy policy that would offer payments to farmers in return for the adoption of conservation tillage and compare the outcomes of alternative targeting designs for such a policy. Using data for roughly 12,000 National Resource...

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Report of the Agricultural Resource Management Survey Panel, Committee on National Statistics, National Academy of Science.

The bias to welfare estimates from omitting substitute prices or qualities in travel cost models is examined. The presence of bias depends on whether single or multiple site changes are examined and the degree of correlation between the omitted and included prices. For a multiple site price or...

Agriculture and the environment are linked by a mutual reliance on scarce resources and prevalent market distortions. In this paper we examine the efficiency costs of policies that correct distortions in one sector while ignoring those in another. The dual distortions of an environmental...

In a static setting, willingness to pay for an environmental improvement is equal to compensating variation. However, in a dynamic setting characterized by uncertainty, irreversibility, and the potential for learning, willingness to pay may also contain an option value. In this paper, we...

This paper provides a critical assessment of the improvements in precision and bias to welfare measures from combining contingent valuation and travel cost data. Simulation experiments are performed using a variation of the model first suggested by Cameron (1992a) with a focus on identifying...

This paper develops and applies a methodology to test for efficiency of interregional commodity arbitrage. Application of the methodology requires only time-series data on prices for alternative cities, regions, countries, or product forms. Yet, the approach is capable of generating evidence on...