bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Interstate River Compact as a Water Allocation Mechanism: Efficiency Aspects
Authors: Bennett Lynne Lewis , Howe Charles W. , Shope James 
Published: March 2003

AbstractInterstate river compacts are widely used to allocate water among riparian states. Twenty‐one compacts are currently in force in the western United States, and these compacts are mostly of two types: those that allocate a fixed amount or flow of water to individual states; and those that allocate percentages of available water to the riparian states. This study compares the performance of the two resulting allocations with that resulting from basin‐wide optimization without compact constraints. While widely varying hydrologic and economic characteristics of river basins create a large set of possible outcomes, a range of stylized case studies indicates that percentage compacts are likely to generate greater net benefits and to result in more equitable risk‐sharing than fixed compacts under many circumstances. In light of recent compact negotiations in the southeastern United States, it is recommended that efficiency analyses under present and future conditions be made a part of all compact negotiations.
Government Spending, Growth and Poverty in Rural India
Authors: Fan Shenggen , Hazell Peter , Thorat Sukhadeo 
Published: March 2003

AbstractUsing state‐level data for 1970–93, a simultaneous equation model was developed to estimate the direct and indirect effects of different types of government expenditure on ruralpoverty and productivity growth in India. The results show that in order to reduce rural poverty, the Indian government should give highest priority to additionalinvestments in ruralroads and agriculturalresearch. These types of investment not only have much larger poverty impacts per rupee spent than any other government investment, but also generate higher productivity growth. Apart from government spending on education, which has the third largest marginalimpact on ruralpoverty and productivity growth, other investments (including irrigation, soil and water conservation, health, and rural and community development) have only modest impacts on growth and poverty per additional rupee spent.
The Joint Influence of Agricultural and Nonfarm Factors on Real Estate Values: An Application to the Mid‐Atlantic Region
Authors: Hardie Ian W. , Narayan Tulika A. , Gardner Bruce L. 
Published: March 2003

AbstractCounty level farmland and residential housing values are estimated for the Mid‐Atlantic region as a function of farm returns, developed land values, household incomes, population densities, and location. Results are based on the hypothesis that farmland owners anticipate land development and that nonfarm factors are important determinants of farmland prices. Response of farmland prices to change in farm returns is found to be inelastic and relatively uniform in rural and urban counties. Response to nonfarm factors is found to be more elastic and substantially greater in rural counties.
Measuring the Welfare Effects of Nutrition Information
Authors: Teisl Mario F. , Bockstael Nancy E. , Levy Alan 
Published: March 2003

AbstractCost/benefit analysis justifies regulations altering the amount of health‐related information presented to consumers. The current method of benefit analysis, the cost of avoided illness, is limited; it assumes the benefits of health‐related information are adequately represented by changes in illnesses. The manuscript develops a benefit estimation method to measure the welfare impacts of providing nutrient information. Nutrient labeling significantly affects purchase behaviour but may not lead to increased consumption of health foods. Nutrient labeling may increase welfare without any change in health risk. Thus, the cost of avoided illness approach can underestimate the social benefits of providing nutrient information.
Transaction Costs and Cattle Marketing: The Information Content of Seller‐Provided Presale Data at Bull Auctions
Authors: Chvosta Jan , Rucker Randal R. , Watts Myles J. 
Published: March 2003

AbstractAt sales out breeding bulls, prospective buyers have strong incentives to undertake presale measurement activities. To reduce these transaction costs, sellers often provide information on sale bulls. We examine the information content of two measures of the expected performance of the bulls and find that within a given herd, older, simpler measures of performance contain more information about prices (from buyers' perspectives) than newer, more sophisticated measures known as expected progeny differences, or EPDs. We also find, however, that buyers appear to pay considerable attention to annual changes in herd‐average EPD values when comparing animals from different sellers.
Agricultural Markets as Relative Performance Evaluation
Authors: Hueth Brent , Ligon Ethan 
Published: March 2003

AbstractRelative performance schemes such as tournaments are commonly used in markets for a variety of livestock and processing commodities, while explicit versions of these schemes are rarely used in markets for fresh fruits and vegetables and specialty grains. We show how contracts for these latter commodities do in fact provide relative performance incentives, albeit indirectly, via a payment mechanism that depends on market prices. In such contracts, compensation is often an increasing function of revenue; this implements a relative performance scheme by making each grower's payment an increasing function of his own output but a decreasing function of other's output.
The Effect of Farmland Preservation Programs on Farmland Prices
Authors: Nickerson Cynthia J. , Lynch Lori 
Published: March 2003

AbstractGovernment agencies in urbanizing areas are increasingly utilizing purchase and transfer of development rights programs to preserve farmland and protect local farm economies. This article tests the effect of development restrictions imposed by permanent easement sales on farmland sales prices, using Maryland data. We correct for selectivity bias due to the voluntary nature of these programs in estimating hedonic sales equations. Although preserved parcels' actual land values are lower, the effect of the restrictions is not statistically significant. These findings may encourage additional participation in preservation programs or justify reductions in the easement prices paid by agencies.
Estimating Crop‐Specific Production Technologies in Chinese Agriculture: A Generalized Maximum Entropy Approach
Authors: Zhang Xiaobo , Fan Shenggen 
Published: March 2003

AbstractA generalized maximum entropy approach is adapted to empirically estimate crop‐specific production technologies in Chinese agriculture. Despite a modest behavioral assumption about equal marginal returns of nonland inputs among crops, this method does not require price information, which is usually distorted in a centrally planned economy such as China. A multi‐output technology for Chinese agriculture is estimated and input allocations for each province are recovered simultaneously. The estimated multi‐output production technology and input allocations imply that China may have greater grain production potentials than previously thought.
Econometric‐Process Models for Integrated Assessment of Agricultural Production Systems
Authors: Antle John M. , Capalbo Susan M. 
Published: March 2003

AbstractThis article develops the conceptual and empirical basis for a class of empirical economic production models that can be linked to site‐specific biophysical models for use in integrated assessment research. Site‐specific data are used to estimate econometric production models, and these data and models are then incorporated into a simulation model that represents the decision‐making process of the farmer as a sequence of discrete and continuous land‐use and input‐use decisions. An econometric‐process model of the dryland grain production system of the Northern Plains demonstrates the capabilities of this type of model to simulate decision making both within and outside the range of observed data.
Evaluating Environmental Risks Using Safety‐First Constraints
Authors: Qiu Zeyuan , Prato Tony , McCamley Francis 
Published: March 2003

AbstractThis article incorporates an upper partial moment concept into a linear programming model to impose safety‐first environmental constraints. The model is linear and deterministic, treats a discrete sample as an empirical distribution, and optimizes over the column space. It allows a decision maker to specify the objectives and the compliance probabilities with the objectives when making decisions, and endogenously determines the risk levels. Even though it is presented in the context of environmental management, the model is general enough to be extended to other situations where the probability of a variable exceeding some target or standard is restricted.
Two Nested Constant‐Elasticity‐of‐Substitution Models of Recreational Participation and Site Choice: An ‘Alternatives’ Model and an ‘Expenditures’ Model
Authors: Morey Edward R. , Breffle William S. , Greene Pamela A. 
Published: March 2003

AbstractTwo demand models of recreational participation and site choice are developed: an alternatives model and an expenditures model. Both assume maximization of utility over the year, so allow for diminishing marginal utility. They do not impose the restrictive assumption that where one goes on a trip is independent of where one plans to go on other occasions. Estimation is with a nested constant‐elasticity‐of‐substitution preference ordering: it is relatively easy to estimate because of global regularity, it allows sites to be complements, and it has the potential to be locally flexible. The application is to Atlantic salmon fishing.
Empirical Specification Requirements for Two‐Constraint Models of Recreation Choice
Authors: Larson Douglas M. , Shaikh Sabina L. 
Published: March 2003

AbstractTwo‐constraint models are common in recreation‐demand analysis because of the important role time can play in consumer choices. Two versions of Roy's identity hold for these models and imply coefficient restrictions on empirical demand functions. The two‐constraint restrictions are fully observable and can be expressed in a form analogous to the Slutsky‐Hicks equations in single‐constraint consumer models. Empirical specifications that use full prices and full budgets can be consistent with the two‐constraint models, when the marginal value of time is either exogenous or endogenous, but models with full prices and money income alone are not.
A Comparison of Conjoint Analysis Response Formats
Authors: Boyle Kevin J. , Holmes Thomas P. , Teisl Mario F. , Roe Brian 
Published: March 2003

AbstractA split‐sample design is used to evaluate the convergent validity of three response formats used in conjoint analysis experiments. We investigate whether recoding rating data to rankings and choose‐one formats, and recoding ranking data to choose one, result in structural models and welfare estimates that are statistically indistinguishable from estimates based on ranking or choose‐one questions. Our results indicate that convergent validity of ratings, ranks, and choose one is not established. In addition, we find that people frequently use ‘ties’ in responses to rating questions, and that the option not to choose any of the alternatives (‘opt‐out’) affects some preference estimates.
Technological Change and Welfare in an Open Economy with Distortions
Authors: Perrin Richard K. , Fulginiti Lilyan E. 
Published: March 2003

AbstractTraditional measures of technological change, such as the rate of technical change, are based on producer‐oriented prices. Here, we employ a general equilibrium analysis of an open economy to examine how the consumer welfare gain from a technological change, measured as Hicksian equivalent variation, is related to the rate of technical change, the biases of the technological change, and tax distortions in the economy. An analytical solution shows these relationships in a readily computable framework, and demonstrates that the rate of technical change will equal the rate of welfare change in only very unrealistic cases.
The Impact of Negativity on Separability Testing
Authors: Eales James , Henderson Jason R. 
Published: March 2003

AbstractDuring separability testing, it has not been common practice to verify if the data satisfy the negativity condition. The impacts of imposing negativity on separability test results are examined for two groups of commodities using Barten's generalized demand system and with Monte Carlo simulations. Results indicate that imposing negativity did not alter model estimates when negativity was spontaneously satisfied. Also, imposing negativity rarely altered separability test results when the data did not spontaneously satisfy negativity.
Preference Uncertainty in Non‐Market Valuation: A Fuzzy Approach
Authors: van Kooten G. Cornelis , Krcmar Emina , Bulte Erwin H. 
Published: March 2003

AbstractIn this article, we consider uncertain preferences for non‐market goods, but we move away from a probabilistic representation of uncertainty and propose the use of fuzzy contingent valuation. We assume that a decision maker never fully knows her own utility function and we treat utility as a fuzzy number. The methodology is illustrated using data on forest valuation in Sweden. Fuzzy contingent valuation provides estimates of resource value in the form of a fuzzy number and includes estimates obtained using a standard probabilistic approach.
A Roll Call Analysis of the Endangered Species Act Amendments
Authors: Mehmood Sayeed R. , Zhang Daowei 
Published: March 2003

AbstractPublic choice economics view legislative process as a transaction in the political market. Interest groups demand regulation in their favor and lobby lawmakers. The lawmakers analyze an assortment of factors and supply legislation to the winning group, thereby maximizing their rent from the political market. This article examines Endangered Species Act (ESA) amendments from a public choice perspective. Congressional voting on the ESA amendments are assessed using a model based on political incentive and ideology. The results show that the lawmakers' voting behavior is correlated with their party affiliation, ideology, and several characteristics of their home state, such as number of endangered species, proportion of urban population, contribution of the natural resources and construction sectors in gross state product, and geographical location
Price Cycles and Asymmetric Price Transmission in the U.S. Pork Market
Authors: Miller Douglas J. , Hayenga Marvin L. 
Published: March 2003

AbstractEconomists have proposed several plausible explanations for observed price transmission asymmetries in commodity markets. Unfortunately, the econometric methods commonly used in such studies cannot empirically distinguish pricing behavior under the competing theories. We argue that the theories may be classified by firm responses to high‐ and low‐frequency price cycles and use Engle's band spectrum regression to test the symmetry of high‐ and low‐frequency cycles in weekly pork prices. The findings indicate that changes in wholesale prices are asymmetrically transmitted to retail prices in relatively low‐frequency cycles, which does not support search costs and other high‐frequency explanations. Conversely, wholesale pork prices asymmetrically adjust to changes in farm prices at all frequencies.
The Extent, Pattern, and Degree of Market Integration: A Multivariate Approach for the Brazilian Rice Market
Authors: González‐Rivera Gloria , Helfand Steven M. 
Published: March 2003

AbstractThe extent, pattern, and degree of integration are analyzed in a multivariate system with cointegrating restrictions. The extent of the market is found by identifying locations that are linked by trade and where prices share identical long‐run information (permanent component). The pattern of integration characterizes interdependence and is analyzed by estimating a vector error correction model. The degree of integration is calculated with persistence profiles of the long run relations. We demonstrate that bivariate models are inadequate for capturing the spatial dynamics of price adjustment. The methodology is applied to the Brazilian rice market and policy implications are discussed.
Beggar‐Thy‐Neighbor Advertising: Theory and Application to Generic Commodity Promotion Programs
Authors: Alston Julian M. , Freebairn John W. , James Jennifer S. 
Published: March 2003

AbstractProfits from generic advertising by a producer group often come partly at the expense of producers of closely related commodities. The resulting tendency toward excessive advertising is exacerbated by check‐off funding. To analyze this beggar‐thy‐neighbor behavior we compare a scenario where different producer groups cooperate and choose their advertising expenditures jointly to maximize the sum of profits across the groups, and a scenario where they optimize independently. In an illustrative example using 1998 data for U.S. beef and pork, the noncooperatively chosen expenditure on beef and pork advertising is more than three times the cooperative optimum.
Welfare Effects of an Export Tax: Thailand's Rice Premium
Authors: Warr Peter G. 
Published: March 2003

AbstractAn empirically based, applied general equilibrium model is used to study the welfare and distributional effects of an export tax when the implementing country possesses some monopoly power in the world market. A method is demonstrated through which a general equilibrium model can be used to find the optimal value of a tax or subsidy. The approach makes it possible to conduct the welfare analysis of a particular intervention in an explicit “second‐best” context, to study its income distributional implications, and to explore the sensitivity of the results to variations in key behavioral parameters, structural assumptions, and the government's distributional objectives.
Differences in Social and Public Risk Perceptions and Conflicting Impacts on Point/Nonpoint Trading Ratios
Authors: Horan Richard D. 
Published: March 2003

AbstractIf stochastic nonpoint pollution loads create socially costly risk, then an economically optimal point/nonpoint trading ratio—the rate point source controls trade for nonpoint controls—is adjusted downward (a risk reward for nonpoint controls), encouraging more nonpoint controls. However, in actual trading programs, ratios are adjusted upward in response to nonpoint uncertainties (a risk premium for nonpoint controls). This contradiction is explained using a public choice model in which regulators focus on encouraging abatement instead of reducing damages. The result is a divergence of public and social risk perceptions, and a trading market that encourages economically suboptimal nonpoint controls.
Farmland Prices in the Presence of Transaction Costs: A Cautionary Note
Authors: Lence Sergio H. 
Published: March 2003

AbstractExplicit consideration of transaction costs is highly relevant for modeling farmland price behavior in a realistic manner. Unfortunately, there are numerous theoretical and empirical difficulties associated with doing so. From a research standpoint, such difficulties greatly increase the likelihood of mistakes in the theoretical derivations and/or in the design and application of empirical methods, thereby undermining the validity of the ensuing findings. This article highlights these issues by discussing the theoretical and empirical pitfalls of two seminal recent articles analyzing farmland prices in the presence of transaction costs.
Why Farmers Quit: A County‐Level Analysis
Authors: Goetz Stephan J. , Debertin David L. 
Published: March 2003

AbstractWe identify the effects of alternative explanatory variables on the propensity of U.S. farmers to cease farming, with a particular emphasis on understanding the roles of off‐farm employment and federal farm program payments. Conventional ordinary least squares analysis using all counties suggests that off‐farm employment has no statistical effect on the (net) number of farmers quitting between 1987 and 1997, ceteris paribus. A more refined analysis, which separates counties losing farmers from those that gained farmers, reveals subtle and less clear‐cut effects of off‐farm employment (and federal program payments) on farm exits.
Why don't Lenders Finance High‐Return Technological Change in Developing‐Country Agriculture?
Authors: Blackman Allen 
Published: March 2003

AbstractMost of the literature attributes credit constraints in small‐farm developing‐country agriculture to the variability of returns to investment in this sector. But the literature does not fully explain lenders' reluctance to finance investments in technologies that provide both higher average and less variable returns. This article develops an information‐theoretic credit market model with endogenous technology choice. The model demonstrates that lenders may refuse to finance any investment in a riskless high‐return technology—regardless of the interest rate they are offered—when they are imperfectly informed about loan applicants' time preferences and, therefore, about their propensities to default intentionally in order to finance current consumption.
The Effects of Housing Prices, Wages, and Commuting Time on Joint Residential and Job Location Choices
Authors: So Kim S. , Orazem Peter F. , Otto Daniel M. 
Published: March 2003

AbstractAn empirical model of joint decisions of where to live and where to work demonstrates that individuals make residential and job location choices by trading off wages, housing prices, and commuting costs. Wages are higher in metropolitan markets, but housing prices are also higher in urban areas. Consumers can live in lower priced nonmetropolitan houses and still earn urban wages, but they incur commuting costs that increase with distance from the city. Improvements in transportation that lower commuting time will increase nonmetropolitan populations and will increase the number of nonmetropolitan commuters to metropolitan markets. Equal wage growth across labor markets causes a shift in relative population from rural to urban markets, while an equiproportional increase in housing prices causes a population shift toward rural areas.
Improving Statistical Efficiency and Testing Robustness of Conjoint Marginal Valuations
Authors: Haefele Michelle A. , Loomis John B. 
Published: March 2003

AbstractWe investigate the effect of panelestimators and sample weighting to improve efficiency of coefficient estimates and confidence intervals on marginal values. Panel estimators are appropriate because most conjoint studies have respondents rate multiple product profiles. Using a random effects ordered probit model increases significance levels on two forest health attribute coefficients and results in substantial tightening of confidence intervals on marginal values. To mitigate the effects of low response rate, we weight the returned surveys using Census data to match the sample to the population. Two of the four marginal values from this weighted ordered probit model are substantially different.