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| Madariaga, Bruce; McConnell, Kenneth E.. |
| Estimation of the economic value of irrigation water is complicated by a lack of data on the price or marginal cost of water. Through econometric estimation of an aggregate total value product function, this paper obtains marginal irrigation water value estimates for the Middle Atlantic region. Additionally, the impact of temperature and soil conditions on aggregate production within the region is estimated. Ridge regression and covariance analysis are employed to deal with problems of multicollinearity and simultaneous equation bias, respectively. Estimates indicate a substantial and growing return to irrigation within the region. |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1984 |
URL: http://purl.umn.edu/29736 |
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| Curtis, John A.; McConnell, Kenneth E.. |
| This paper examines the criticism of contingent valuation put forth by Blamey, Common and Quiggin (Australian Journal of Agricultural and Resource Economics, 1995, vol. 39, pp. 264–288). They argue that households have consistent preferences over private goods but not jointly consistent preferences over public and private goods and, hence, contingent valuation cannot uncover meaningful responses for the valuation of public goods. In this paper we argue that the motives that are manifested in choices for public goods can be explained in two ways. One is the model of the citizen, proposed by Blamey et al. (1995). The second is a model of neoclassical preferences with altruism. Given these alternative and competing explanations of choices for public goods,... |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1997 |
URL: http://purl.umn.edu/118070 |
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| Horowitz, John K.; List, John A.; McConnell, Kenneth E.. |
| The notion of diminishing marginal value has had a profound impact on the development of neoclassical theory. Early neoclassical scholars had considerable difficulty convincing contemporaries of the new paradigm's value until political economists, including Jevons and Walras, used the critical assumption of diminishing marginal value to link utility and demand. While diminishing marginal value remains a key component of modern economic intuition, there is surprisingly little empirical verification of its existence or level. This paper gathers field data across a myriad of subject pools--from undergraduate students to PTA members to sportscard enthusiasts--to examine several aspects of preferences in both price and exchange institutions. Examining behavior... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2004 |
URL: http://purl.umn.edu/20297 |
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| Barbarika, Alexander, Jr.; McConnell, Kenneth E.; Colacicco, Daniel; Bellows, William J.. |
| One option for the disposal of sewage sludge is land spreading, including application to private croplands. Land spreading may allow some of the sewage treatment costs to the municipality or county to be offset by farmers' payments for sludge as a crop producing resource. This study investigates the conditions under which a market for sludge will emerge. A linear programming model of a profit maximizing corn for gain farm is formulated and the quantity of sludge available is parametrically varied to trace out marginal productivity curves under various situations. The results for Anne Arundel county, Maryland sludge show a range in value from 0-35 $/ton at application rates from 0-20 tons/acre/year for three years. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries; Resource /Energy Economics and Policy. |
| Ano: 1985 |
URL: http://purl.umn.edu/28932 |
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