Learn More
The authors gratefully acknowledge assistance from Daniel Monchuk and Terrance Hurley in conducting the surveys and assistance from Monsanto in providing some of the products used in the experiment. The views expressed here are those of the authors, and may not be attributed to the Economic Research Service or the US Department of Agriculture. Abstract To(More)
Numbers of non-indigenous species--species introduced from elsewhere - are increasing rapidly worldwide, causing both environmental and economic damage. Rigorous quantitative risk-analysis frameworks, however, for invasive species are lacking. We need to evaluate the risks posed by invasive species and quantify the relative merits of different management(More)
Many economic, political and social environments can be described as contests in which agents exert costly efforts while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rank-order tournaments. This survey provides a review of experimental research on these three(More)
Invasive species have been highlighted as a major driver of global environmental change and economic damages, spurring governments worldwide to increase prevention and control investments. Unfortunately, recent research is frequently in a form inaccessible to policy-makers and managers. The complexity of analysis and resulting time requirements can be(More)
Biomedical studies suggest that a person's behavior matters to health, but these studies usually treat human choice as exogenous. This study shows that individual choices on nutrient intake, exercise, and use of medication are influenced by exogenous food prices, wages, and non-labor income. Using these exogenous variables as instruments for endogenous(More)
Course Description: Environmental issues are becoming increasingly central in our lives. As the world population and its associated consumption grows, there are more and more people taking natural resources such as fossil fuels, minerals, timber, and fishes from the environment. At the same time, they are adding to the environment wastes such as air and(More)
We design and implement a field experiment to elicit and calibrate in-sample hypothetical and actual bids given the presence of other goods and intensity of market experience. Using market goods that possess characteristics beyond the norm but yet remain deliverable, bidding behavior was consistent with theory. But we also observe the average calibration(More)
Concern exists that hypothetical willingness to pay questions overestimate real willingness to pay. In a field experiment, we compare two methods of removing hypothetical bias, a cheap talk approach and a certainty approach. Subjects, who are diabetes patients, receive a real or hypothetical offer to purchase a pharmacist-provided diabetes management(More)
Auction theory has recently revealed that multi-unit uniform-price auctions, such as those used by the U.S. Treasury for debt sales, entail demand-reduction incentives that can cause inefficient allocations. Recent experimental results show that bidders do indeed strategically reduce their bids in uniform-price auctions. The present paper extends this work,(More)