Farmland Preservation and Differential Taxation: Evaluating Optimal Policy Under Conditions of Uncertainty

Differential property tax policy for farmland is often set under conditions of uncertainty and limited information regarding landowners' objective functions. This study examines optimal differential tax policy for a parcel of agricultural land facing uncertain development, identifying instances in which common farmland taxation policies may be non-optimal. Optimal tax rates are characterized given three possible causes of uncertain development: exogenous offers from developers, tax-related reductions in landowner wealth, and a combination of these factors. Model results indicate that underlying causes of uncertain development are critical when seeking to assess the optimality of differential taxation policies, and the use of a single, time-invariant differential tax levy is rarely optimal given uncertain development.Agricultural and Food Policy,

One Last Chance: The Economic Case for a New Approach to Fisheries Management in New England

Documents the decline of the New England fishing industry as a result of mismanagement, presents examples of successful and sustainable fisheries, and examines the viability of proposed community-based, fishermen-run cooperatives as a solution

A Battle of Taste and Environmental Convictions for Ecolabeled Seafood: A Choice Experiment

This paper describes a choice experiment addressing preferences for ecolabeled seafood, in which the experimental design allows for choices among various fresh seafood products. The primary emphasis is the potential trade-off between taste (i.e., a favored species) and the presence of an ecolabel, when multiple seafood products are available.Consumer/Household Economics,

Validating Hypothetical Surveys Using Binding Public Referenda: Implications for Stated Preference Valuation

This study presents a criterion validity test in which stated choices are compared to subsequent binding referendum votes. The study is distinguished by identical hypothetical and actual choice contexts, and results that show no evidence of hypothetical bias. Results suggest a number of possibilities for amelioration of hypothetical bias.Research Methods/ Statistical Methods,

Valuing Farmland Protection with Choice Experiments That Incorporate Preference Heterogeneity: Does Policy Guidance Depend On the Econometric Fine Print?

Although mixed logit models are common in stated preference applications, resulting welfare estimates can be sensitive to minor changes in specification. This can be of critical relevance for policy and welfare analysis, particularly if policymakers are unaware of practical implications. Drawing from an application to agricultural conservation in Georgia, this paper quantifies the sensitivity of welfare estimates to common variations in mixed logit specification and assesses practical implications for policy guidance. Results suggest that practitioners may wish to reevaluate modeling and reporting procedures to reflect the welfare and policy implications of common but often unnoticed variations in model specification.Willingness to Pay, Conservation Easement, PACE, Mixed Logit, Stated Preference, Environmental Economics and Policy, Land Economics/Use, Research Methods/ Statistical Methods, Q24, Q51,

Benefit Transfer from Multiple Contingent Experiments: A Flexible Two-Step Model Combining Individual Choice Data with Community Characteristics

This study proposes a new approach to utilize information from existing choice experiments to predict policy outcomes for a transfer setting. Recognizing the difficulties from pooling raw data from experiments with different designs and sub-populations we first re-estimate all underlying Random Utility Models individually, and then combine them in a second stage process to form a weighted mixture density for the generation of policy-relevant welfare estimates. Using data from recent choice experiments on farmland preservation we illustrate that our strategy is more robust to transfer inaccuracies than single-site approaches. The specification of "intelligent" mixture weights will be a fruitful ground for future research in the area of Benefit Transfer.

WHO ARE RESOURCE NONUSERS AND WHAT CAN THEY TELL US ABOUT NONUSE VALUES? AN APPLICATION TO COASTAL WETLAND RESTORATION

This paper assesses the potential for incomplete definitions of resource use to influence estimates of nonuser WTP, and whether uses underlying certain use values may escape measurement using standard mechanisms applied to distinguish resource users from nonusers. Empirical results are drawn from a stated preference analysis involving coastal wetland restoration.Resource /Energy Economics and Policy,

High performance composites research at NASA-Langley

Barriers to the more extensive use of advanced composites in heavily loaded structures on commercial transports are discussed from a materials viewpoint. NASA-Langley matrix development activities designed to overcome these barriers are presented. These include the synthesis of processible, tough, durable matrices, the development of resin property/composite property relationships which help guide the synthesis program, and the exploitation of new processing technology to effectively combine reinforcement filament with polymer matrices. Examples of five classes of polymers being investigated as matrix resins at NASA Langley are presented, including amorphous and semicrystalline thermoplastics, lightly crosslinked thermoplastics, semi-interpenetrating networks and toughened thermosets. Relationships between neat resin modulus, resin fracture energy, interlaminar fracture energy, composite compression strength, and post-impact compression strength are shown. Powder and slurry processing techniques are discussed

Systematic Variation in Willingness to Pay for Agricultural Land Preservation and Implications for Benefit Transfer: A Meta-Analysis

Despite prior studies examining willingness to pay for farmland preservation there has been no quantitative, systematic analysis of findings across the literature. This paper presents the first statistical meta-analysis of farmland preservation values. Results confirm systematic variations in willingness to pay, with value surfaces corresponding to theoretical expectations. Findings also provide significant insight into the potential for valid meta-analytic, function based benefit transfer. Results suggest, for example, that transfer validity is critically dependent on jurisdictional scale. Transfer errors are modest for community scale farmland preservation, but large for state scale preservation policies in which per acre welfare estimates are small.Land Economics/Use,

STATED PREFERENCES AND LENGTH OF RESIDENCY IN RURAL COMMUNITIES: ARE DEVELOPMENT AND CONSERVATION VALUES HETEROGENEOUS?

Newer residents of rural, urban-fringe communities are often assumed to have preferences for the development and conservation of rural lands that differ from those of longer-term residents. The existing literature offers little to verify or quantify presumed preference shifts. This paper provides a systematic, quantitative examination of whether stated preferences for development and conservation tradeoffs differ according to length of residency in a rural community, and explores implications of these findings for assumptions regarding development and conservation preferences. Results are based on stated preferences estimated from a multi-attribute contingent choice survey of Rhode Island rural residents. Heterogeneity-according to length of town residency-is incorporated using Lagrangian Interpolation Polynomials. This approach models the influence of policy attributes as a polynomial function of residence time, thereby allowing estimated coefficient values to vary as a continuous function of residence duration.Community/Rural/Urban Development, Land Economics/Use,