This paper establishes a methodology for valuing the impact of large-scale ecological changes in a market. Given the large capital stocks inherent in most ecological systems, the dynamic nature of most ecological change, and the dynamic response of markets, it is critical to build dynamic models...

Because of the potential for global warming, there are widespread concerns about the impact of changing climate upon the productivity of land in farming and other sectors. This paper develops a new approach for measuring the economic impact of environmental factors such as climate on production...

This article examines how expected changes in climate are likely to affect agriculture in China. The effects of temperature and precipitation on net crop revenues are analyzed using cross-sectional data consisting of both rainfed and irrigated farms. Based on survey data from 8,405 households...

In this study we estimate how much Polish citizens would be willing to pay to harmonize Polish air pollution standards with EU standards. We conduct a contingent valuation of all damage components using a system of dichotomous choice questions. This system approach helps to avoid embedding...

Over the last decade, several authors have questioned thevalidity of the hedonic travel cost model, arguing instead that the random utility model is a superior method forvaluing recreational site attributes. This paper demonstrates that the two methods emanate from a similar utilitytheoretic...

This paper presents two formal models that link poorly defined property rights with wasteful deforestation. The first model demonstrates that, when property rights must be privately defended, most of the potential rental value of the land will be dissipated. The second model shows that even...