Researchers using revealed preference data have mostly relied on the Mixed Logit (ML) framework to model unobserved heterogeneity. In this paper, we suggest an extension of this model where we integrate direct measures of taste and revealed preferences, under a unified econometric setting, to...

Replaced with revised version of paper Jan. 11, 2012

Linear goal programming provides a means of formally incorporating the multiple goals of a household into the analysis of farming systems. Using this approach, the set of plans which come as close as possible to achieving a set of desired goals under conditions of land and cash scarcity are...

This paper demonstrates that, in situations in which a cumulative externality exists, the basic nature and extent of resource misallocation may be substantially less than we imagine. This conclusion stems from deriving consistent conjectures in a unified framework in which congestion is present....

Game theory - aptly described as the scientific approach to poker, business, women and war - has proved to be no cure-all for the conflict situations studied by agricultural economists. Like Marshall, it has had its day. Still, just as in general economics, game theory has provided an...

Game theory offers an alternative approach to standard means of resource assessment which can be of value in the definition and assessment of policy options for competing parties. Using a Nash co-operative game it has been possible in this paper to show the significance of fishing strategies for...

Some empirical problems which tend to receive inadequate attention in response analysis are discussed. These include the variation not explained by fitted production functions, the sensitivity of optima and profits to price changes, the cost of developing production functions and the value in...