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| Registros recuperados: 16 | |
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| Provencher, Bill; Sarakinos, Helen; Meyer, Tanya. |
| This paper uses hedonic analysis to examine the impact of small dam removal on property values in South-central Wiscosin. Data on residential property sales were obtained for three categories of sites: those where a dam is intact, those where a dam was recently removed, and those where the stream has been free-flowing for at least 20 years. The primary conclusions that emerge from the data are that residential property located in the vicinity of a free-flowing stream is more valuable than identical property in the vicinity of a small impoundment, and that shoreline frontage along small impoundments confers no increase in residential property value compared to frontage along free-flowing streams. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Land Economics/Use. |
| Ano: 2006 |
URL: http://purl.umn.edu/10280 |
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| Plantinga, Andrew J.; Provencher, Bill. |
| For several decades, economists have been concerned with the problem of optimal resource use under uncertainty. In many studies, researchers assume that prices evolve according to an exogenous stochastic process and solve the corresponding dynamic optimization problem to yield an optimal decision rule for exploitation of the resource. This study is motivated by our attempt to understand the relationship between efficiency in resource markets and optimal harvest decisions in which price is an exogenous state variable. The literature on optimal commodity storage finds that in a rational expectations equilibrium commodity prices are stationary and serially correlated. Yet recent papers on optimal timber harvesting that assume exogenous stationary prices... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/20712 |
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| Moore, Rebecca; Bishop, Richard C.; Provencher, Bill; Champ, Patricia A.. |
| In this paper we develop an econometric model of willingness to pay that integrates data on respondent uncertainty regarding their own willingness to pay. The integration is utility consistent and does not involve calibrating the contingent responses to actual payment data, and so the approach can “stand alone”. In an application to a valuation study related to whooping crane restoration, we find that this model generates a statistically lower expected WTP than the standard CV model. Moreover, the WTP function estimated with this model is not statistically different from that estimated using actual payment data, suggesting that when properly analyzed using data on respondent uncertainty, contingent valuation decisions can simulate actual payment decisions.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods; Risk and Uncertainty. |
| Ano: 2009 |
URL: http://purl.umn.edu/92233 |
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| Provencher, Bill; Bishop, Richard C.. |
| Static travel cost models have been only partially successful in modeling the sequential aspects of a recreation decision like the decision to fish. In this paper we describe a dynamic structural model of the decision to visit a recreation site. The model is best described as a dynamic multinomial logit model. By virtue of its dynamic nature, the model avoids the problem of the independence of irrelevant alternatives that afflicts static multinomial logit models. Welfare effects of changes in site quality are easily calculated via dynamic programming. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1995 |
URL: http://purl.umn.edu/12614 |
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| Lewis, David J.; Provencher, Bill. |
| This paper examines the effects of environmental zoning policies on lakefront land development, sorting, and economic welfare in a model where agents are heterogeneous in preferences and income. Agents consume lakefront amenities that are endogenous to development and the sorting process yields lakes which differ by amenities and frontage prices. Our findings include the following: i) lakes become more homogeneous with a collapsing price premium as incomes grow, ii) zoning can preserve the sorting process and be welfare improving, and iii) land prices may not capture all welfare effects from zoning. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2006 |
URL: http://purl.umn.edu/10283 |
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| Moore, Rebecca; Provencher, Bill; Bishop, Richard C.. |
| This article investigates the value of reducing non-point source pollution in Green Bay, WI. Using stated preference methods, we find the lower bound on the benefits of reducing runoff enough to universally increase water clarity by four feet is greater than $9 million annually. Using a unique survey design, we show that because current water clarity in Green Bay is spatially variable, the value that a household places on this universal improvement depends on the distance of the household’s residence from the Bay and on the particular geospatial location of the residence. This has important implications for estimating aggregate benefits. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/92235 |
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| Moore, Rebecca; MacPherson, Alexander J.; Provencher, Bill. |
| This paper presents an integrated ecological and economic model of aquatic plant species invasions in which resource users are the primary vector of species colonization. A random utility model of boater behavior is combined with ecological information about the invader and the landscape to form a dynamic principal-agent model in which the principal is a manager concerned with the interseasonal spread of invasive species across lakes, and agents are recreational boaters making a series of intraseasonal trip decisions to maximize random utility during the course of the season. Agent behavior is sensitive to both the degradation of environmental quality on colonized lakes and the actions taken by resource managers to control the spread of the invasive... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/12684 |
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| McGough, Bruce; Plantinga, Andrew J.; Provencher, Bill. |
| The problem of when to optimally harvest trees when timber prices evolve according to an exogenous stochastic process has been studied extensively in recent decades. However, little attention has been given to the appropriate form of the stochastic process for timber prices, despite the fact that the choice of a process has important effects on optimal harvesting decisions. We develop a simple theoretical model of a timber market and show that there exists a rational expectations equilibrium in which prices evolve according to a stationary ARMA(1,1) process. Simulations are used to analyze a model with a more general representation of timber stock dynamics and to demonstrate that the unconditional distribution for rational timber prices is asymmetric.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/12607 |
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| Bennett, Michael; Provencher, Bill; Bishop, Richard C.. |
| This paper combines fishing trip decisions - made before observing trip outcomes - with responses to set of double-bounded dichotomous choice CV questions regarding the outcome of the trip, to explore cognitive elements of choice and their implications for decision modeling and welfare analysis. Extending the approach taken by McConnell et al. (1999), wherein the unobserved component of random utility is linked between the trip decision and the retrospective trip evaluation, we decompose the unobserved component into linked and independent elements, and make the linked component a function of cognitive factors hypothesized as affecting differences between the RP and SP responses. Results suggest that a significant "wedge" exists between the closely related... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/12642 |
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| Baerenklau, Kenneth A.; Provencher, Bill. |
| This paper examines the consequences of using a static model of recreation trip-taking behavior when the underlying decision problem is dynamic. In particular, we examine the implications for trip forecasting and welfare estimation using a panel dataset of Lake Michigan salmon anglers for the 1996 and 1997 fishing seasons. We derive and estimate both a structural dynamic model using Bellman's equation, and a reduced-form static model with trip probability expressions closely mimicking those of the dynamic model. We illustrate an inherent identification problem in the reduced-form model that creates biased welfare estimates, and we discuss the general implications of this for the interpretation of preference parameters in static models. We then use both... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2004 |
URL: http://purl.umn.edu/20355 |
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| Provencher, Bill; Lewis, David J.; Schoen, Joe. |
| In this paper we present a preliminary analysis of whether and how spatial variation in environmental attributes affects the residential sorting of households with heterogeneous preferences. An important implication of such sorting arises if variation in preferences over environmental attributes is correlated with household activities affecting the local ecosystem, such as the replacement of native vegetation with lawns, and the removal of course woody habitat from a lake. In this case the sorting process may engender differential evolution of local ecosystems (lakes) with the same initial ecological state. The model examined in the paper has the potential to statistically examine this issue, and therefore holds promise for understanding the behavioral... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy; Land Economics/Use. |
| Ano: 2007 |
URL: http://purl.umn.edu/9794 |
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| Lewis, David J.; Provencher, Bill; Butsic, Van. |
| Recent economic analyses emphasize that designated open-space increases the rents on neighboring residential land, and likewise, the probability of undeveloped land converting to residential uses. This paper addresses a different question: What is the effect of local open space conservation on the rate of growth in the density of existing residential land? The analysis is relevant for exurban development and also for remote lakeshore development, where shoreline development density can rapidly increase over time and open-space policies are often advocated as a way to protect ecosystems by reducing development. A discrete choice econometric model of lakeshore development is estimated with a unique parcel-level spatial-temporal dataset, using maximum... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy; Land Economics/Use. |
| Ano: 2008 |
URL: http://purl.umn.edu/92199 |
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| Registros recuperados: 16 | |
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