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Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), PHILIP E. GRAVES 2017 University of Colorado at Boulder

Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), Philip E. Graves

PHILIP E GRAVES

As with other public goods lacking strong special interest support, global climate policy suffers from two serious
theoretical flaws. The first is failure to endogenize the labor-leisure decision when conducting benefit-cost analysis.
Recognition that income generated will not remain the same pre-and-post policy results in downward bias
in benefit estimation. Much more importantly, there will generally be free riding in input markets in addition to
the well-known output demand revelation problem. Since even households with very high marginal values cannot
individually increment public goods, too little income will be generated and too much of the income that is
generated will ...


Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman 2017 Iowa State University

Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman

Bruce Babcock

The risk premium and the probability premium are used to determine appropriate coefficients of absolute risk aversion under CARA utility. A defensible range of risk-aversion coefficients is defined by the coefficients that correspond to risk premiums falling between 1 and 99% of the amount at risk or to probability premiums falling between .005 and ,49 for a lottery that pays or loses a given sum. The consequences of ignoring risk premiums when selecting risk-aversion coefficients for representative decision makers are illustrated by calculation of the implied risk premium associated with the levels of absolute risk aversion assumed in six selected ...


Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, William E. Foster, Bruce Babcock 2017 North Carolina State University

Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, William E. Foster, Bruce Babcock

Bruce Babcock

We estimate the influence of policy-induced price changesand of technologysupply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.


Targeting Resource Conservation Expenditiures, JunJie Wu, Richard M. Adams, David Zilberman, Bruce A. Babcock 2017 Iowa State University

Targeting Resource Conservation Expenditiures, Junjie Wu, Richard M. Adams, David Zilberman, Bruce A. Babcock

Bruce Babcock

Payments to landowners are a major vehicle to assure resource conservation and environmental protection. Examples of payment programs are listed in the sidebar, page. 34. Some of these programs (1, 2 and 3) compensate resource owners for changing resource uses while others (4, 5 and 6) involve the outright purchase of a resource. For example, the Conservation Reserve Program (CRP) has compensated landowners to retire 37 million acres of highly erodible cropland at a current annual cost of approximately $1.9 billion, and the Nature Conservancy has protected more than 11 million acres of environmentally valuable land in the United ...


Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock 2017 University of Illinois

Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock

Bruce Babcock

The production literature has shown that inputs such as fertilizer can be defined as riskincreasing. However, farmers also consistently overapply nitrogen. A model of optimal input use under uncertainty is used to address this paradox. Using experimental data, a stochastic production relationship between yield and soil nitrate is estimated. Numerical results show that input uncertainty may cause farmers to overapply nitrogen. Survey data suggest that farmers are risk averse, but prefer small chances of high yields compared to small chances of crop failures when expected yields are equivalent. Furthermore, yield risk and yield variability are not equivalent.


Moving From Uniform To Variable Fertilizer Rates On Iowa Corn: Effects On Rates And Returns, Bruce A. Babcock, Gregory R. Pautsch 2017 Iowa State University

Moving From Uniform To Variable Fertilizer Rates On Iowa Corn: Effects On Rates And Returns, Bruce A. Babcock, Gregory R. Pautsch

Bruce Babcock

This study develops a model based on the yield potential of various soil types in 12 Iowa counties to estimate the potential value of switching from uniform to variable fertilizer rates. Results indicate modest increases in the gross returns over fertilizer costs, ranging from $7.43 to $1.52 per acre. The net profitability of variable-rate technology (VRT) is sensitive to the per acre costs of moving to a VRT program. Under the assumptions of the model, applying variable rates would increase yield by 0.05 to 0.50 bushels per acre, and would reduce fertilizer costs by $1.19 ...


Optimal Information Acquisition Under A Geostatistical Model, Gregory R. Pautsch, Bruce Babcock, F. Jay Breidt 2017 Iowa State University

Optimal Information Acquisition Under A Geostatistical Model, Gregory R. Pautsch, Bruce Babcock, F. Jay Breidt

Bruce Babcock

Studies examining the value of switching to a variable rate technology (VRT) fertilizer program assume producers possess perfect soil nitrate information. In reality, producers estimate soil nitrate levels with soil sampling. The value of switching to a VRT program depends on the quality of the estimates and on how the estimates are used. Larger sample sizes, increased spatial correlation, and decreased variability improve the estimates and increase returns. Fertilizing strictly to the estimated field map fails to account for estimation risk. Returns increase if the soil sample information is used in a Bayesian fashion to update the soil nitrate beliefs ...


Dawn Of The Lawn, David M. Guy 2017 John Tyler Community College

Dawn Of The Lawn, David M. Guy

Exigence

Drawing on both electronic and print sources, this research seeks to explore the cultural, economic, and environmental implications of the American lawn and suggest the need to awaken a cultural discussion aimed at harmonizing one’s landscape with reality. The lawn penetrates the American’s daily life, yet few stop to examine the origins and effects of the lawn. Involving many of the leading academic voices in this subject, this work further aims to ignite a diverse discussion of the lawn’s connection to oil, fertilizers, pesticides, drinking water, and individual’s behavior. Considerable evidence supports the notion that the ...


Setting Up Living Trusts, Neil E. Harl 2017 Iowa State University

Setting Up Living Trusts, Neil E. Harl

Neil E. Harl

The recent enthusiasm for setting up revocable living trusts is supported by two pluses — (1) a way to assure flexibility in management for property in those later years when individuals may not be in a good position to manage their assets and (2) an opportunity for some simplification in estate settlement. However, several factors of a technical or practical nature should be taken into account before the decision is made to establish a revocable living trust.


Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl 2017 Iowa State University

Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl

Neil E. Harl

For years the Internal Revenue Service resisted the disclaimer of joint tenancy interests on the grounds that the disclaimer had to occur within nine months of the creation of the joint tenancy. IRS eventually came to accept the disclaimer of revocable joint tenancies within nine months after death and even more recently indicated that the Service would not resist the disclaimer of joint tenancy interests in other than revocable joint tenancies where there was a predeath right to sever the joint interests The focus on when joint tenancies could be disclaimed obscured the question of what could be disclaimed.


Disclaiming The Survivorship Interest In Joint Tenancy Property, Neil E. Harl 2017 Iowa State University

Disclaiming The Survivorship Interest In Joint Tenancy Property, Neil E. Harl

Neil E. Harl

No abstract provided.


Capitalizing Preproductive Period Expenditures, Neil Harl 2017 Selected Works

Capitalizing Preproductive Period Expenditures, Neil Harl

Neil E. Harl

Few have forgotten the provision in the Tax Reform Act of 1986 requiring the capitalization of preproductive period expenditures for animals or crops having a preproductive period of more than two years. The provision was repealed as to animals in the Technical and Miscellaneous Revenue Act of 1988. However, problems may now be encountered by those who elected out of the provision before 1989.


Cash Accounting For Farm And Ranch Corporations, Neil E. Harl 2017 Iowa State University

Cash Accounting For Farm And Ranch Corporations, Neil E. Harl

Neil E. Harl

As a new taxpayer, a farm or ranch corporation may elect the cash or accrual methods of accounting if the corporate books are so kept and the method clearly reflects income. Indeed, IRS has ruled that a corporation may report on the cash method of accounting even though books are kept on the accrual method if the corporation maintains work papers reconciling accrual method book income to cash method taxable income. The method of accounting should be elected clearly on the initial corporate income tax return.


Funding Revocable Living Trusts, Neil E. Harl 2017 Iowa State University

Funding Revocable Living Trusts, Neil E. Harl

Neil E. Harl

Without much doubt, the transfer of assets to the trust is the most critical part of the formation of a revocable living trust. Inasmuch as all of the grantor's property should be conveyed to the trust, the obvious question is whether the transfer triggers adverse consequences to the grantor. In general, conveyance of property to a revocable inter vivos trust can be accomplished without negative consequences but the property inventory should be subjected to an itemby- item review before the actual transfer occurs. Here are the major points to consider.


Family Estate Trusts, Neil E. Harl 2017 Iowa State University

Family Estate Trusts, Neil E. Harl

Neil E. Harl

The recent attention to revocable living trusts has led to some confusion with a far less useful concept, the trust referred to variously as the "family estate" trust, "pure" trust, and "constitutional" trust. The latest version of these trusts, all of which are valued as substantially less than worthless, is the two-trust off-shore version or the foreign tax haven double trust. The trusts are mostly sold door-to-door through local contacts who tout the trusts as devices to solve all of one's estate-planning problems. The trusts are purportedly irrevocable, generally for a 25-year term.


Handling Commodity Futures Transactions, Neil E. Harl 2017 Iowa State University

Handling Commodity Futures Transactions, Neil E. Harl

Neil E. Harl

In the same manner as other merchants and manufacturers, farm and ranch taxpayers buy and sell commodity futures to hedge against fluctuating prices. Likewise, farm and ranch taxpayers buy and sell commodity futures as speculators. The principal matter of concern from an income tax perspective in the farm and ranch area is the line between hedging and speculation.


Overpopulation And The Impact On The Environment, Doris Baus 2017 The Graduate Center, City University of New York

Overpopulation And The Impact On The Environment, Doris Baus

All Graduate Works by Year: Dissertations, Theses, and Capstone Projects

In this research paper, the main focus is on the issue of overpopulation and its impact on the environment. The growing size of the global population is not an issue that appeared within the past couple of decades, but its origins come from the prehistoric time and extend to the very present day. Throughout the history, acknowledged scientists introduced the concept of “overpopulation” and predicted the future consequences if the world follows the same behavioral pattern. According to predictions, scientists invented the birth control pill and set population control through eugenics. Despite that, population continued to increase and fight with ...


An 8-Zone Iso-Ne Test System With Physically-Based Wind Power, Wanning Li, Leigh Tesfatsion 2017 Iowa State University

An 8-Zone Iso-Ne Test System With Physically-Based Wind Power, Wanning Li, Leigh Tesfatsion

Economics Working Papers

This study extends the agent-based 8-Zone ISO-NE Test System to include wind turbine agents, each characterized by location, physical type, and an output curve mapping local wind speed into wind power output. Increases in wind power penetration (WPP) are modeled as build-outs of investment queues for planned wind turbine installations. The extended system is used to study the effects of increasing WPP under both stochastic and deterministic day-ahead market (DAM) formulations for security-constrained unit commitment (SCUC).

For each tested WPP, the expected cost saving resulting from a switch from deterministic to stochastic DAM SCUC is found to display a U-shaped ...


Cultivating A Culture Of Food Justice: Impacts Of Community Based Economies On Farmers And Neighborhood Leaders In The Case Of Fresh Stop Markets In Kentucky, Heather Hyden 2017 University of Kentucky

Cultivating A Culture Of Food Justice: Impacts Of Community Based Economies On Farmers And Neighborhood Leaders In The Case Of Fresh Stop Markets In Kentucky, Heather Hyden

Theses and Dissertations--Community and Leadership Development

In this thesis, I focus on two tensions within the alternative agro-food movement. First is a question of who/what community is allowed to define food systems problems and then implement solutions. For example, food desert metaphors rely discursively on defining communities as being “without”, which perpetuates needs-based narratives, in which only professional “experts” know how to solve problems of food access. These representations ignore the creativity, agency, and resiliency of everyday food justice mobilizations happening at the grassroots level. Second, what form can solutions take within hegemonic constructions of development? I build a theoretical model based on Black geographies ...


Roots Of A Movement: Community Action And The Impact Of Urban Agriculture In Chicago, Maia Welbel 2017 Pomona College

Roots Of A Movement: Community Action And The Impact Of Urban Agriculture In Chicago, Maia Welbel

Pomona Senior Theses

Efforts to maintain a relationship to food pathways have been consistent throughout U.S. history despite the general evolution towards an increasingly industrialized food system. Urban agriculture serves as a means of reclaiming and furthering knowledge of where food comes from while also addressing larger social, economic, and environmental goals. This has been demonstrated in Chicago where urban farmers have worked to improve food access, increase employment, and revitalize communities all across the city. For many years, federal policies have promoted maximum production of commodity crops and kept supermarket prices low, allowing the government to ignore the impacts these policies ...


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