THE POVERTY OF APPLIED POLICY ANALYSIS

Agricultural and Food Policy,

A BIOECONOMIC SIMULATION ANALYSIS OF IRRIGATION INVESTMENTS

Resource /Energy Economics and Policy,

DISTORTIONARY IMPACTS OF THE 1982 AND 1986 U.S. TAX CODES ON CAPITAL INVESTMENTS: A CASE STUDY OF INVESTMENT IN ORANGE GROVES

The 1980s have been a period of dramatic change for the income tax code in the United States. Although numerous modifications were considered in policy deliberations, two key goals, the reduction of the importance of tax considerations in investment decisions and tax simplification, emerged from the discussion and guided drafting of the 1986 Tax Reform Act. This study examines the importance of tax considerations in investment decisions under the provisions of the Tax Reform Act of 1986 and its predecessor, the Tax Equity and Fiscal Responsibility Act of 1982. The study then compares the tax liability under these tax codes with a nondistortionary tax scheme. Results indicate that the Tax Reform Act of 1986 reduced the distortionary effects of the tax code on capital investment decisions. However, a large portion of the reduction can be attributed to the change in the average tax rate.Agricultural Finance,

IMPORTANCE, CAUSES, AND MANAGEMENT RESPONSES TO FARM RISKS: EVIDENCE FROM FLORIDA AND ALABAMA

Despite the contention that risk and uncertainty play an important role in agriculture in North Florida and South Alabama, very little is known about producers' perceptions of risk. This paper describes the procedures used and the results obtained from a statistically random survey of farmers' perceptions of the importance of various sources of risk and alternative risk management practices. Initially, farmers were asked to define risk and then to rank various sources of risk and management responses to risk based on the relative importance of each to their operation. Summary statistics, Chi-squares analyses, and logistic regression techniques were used to analyze the data.Farm Management, Risk and Uncertainty,

RISK PERCEPTIONS AND MANAGEMENT RESPONSES: PRODUCER-GENERATED HYPOTHESES FOR RISK MODELING

Farm level risk analyses have used price and yield variability almost exclusively to represent risk. Results from a survey of 149 agricultural producers in 12 states indicate that producers consider a broader range of sources of variability in their operations. Significant differences exist among categories with respect to the importance of the sources of variability in crop and livestock production. Producers also used a variety of management responses to variability. There were significant difference among categories in the importance given to particular responses and their use of them. These results have implications for research, extension, and policy programs.Risk and Uncertainty,

The Economics of Conservation Targeting Strategies

In recent years, payments to purchase resources or easements or to change landowner behavior have become a major vehicle for resource conservation and environmental protection. These funds use various strategies to target resources for conservation, the choice of which may lead to striking differences in economic and environmental performance. In this presentation, we present an analytic framework to evaluate the economic, environmental and distributional impacts of alternative targeting strategies. We argue that the prevailing U.S. federal policy of targeting conservation programs on the basis of onsite criteria ignores threshold effects in resource conservation, which may cause conservation funds to be overly dispersed geographically and result in substantial losses in economic efficiency. We show that when funds are insufficient to correct environmental problems in all areas, they should be concentrated in selected target areas. The empirical focus is on habitat investments to protect an important anadromous fish species in the Pacific Northwest, steelhead trout. Results of the analysis point to a substantial cumulative effect in the relationship between water quality and abundance in this fishery, which affects the efficiency of specific habitat investments

Nonsteroidal Anti-inflammatory Drugs and Endometrial Carcinoma Mortality and Recurrence

Background: Recent data suggest that the use of nonsteroidal anti-inflammatory drugs (NSAIDs) may be associated with reductions in endometrial cancer risk, yet very few have examined whether their use is related to prognosis among endometrial cancer patients