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THEORY OF PRIVATELY OPTHVIAL RESOURCE USE
ECONOMETRIC ANALYSIS PllOO
CONCLUSIONS AND POLICY INIPLICATIONS
2 other sections not shown
36 counties Acit aggregation aggregation problem agricultural cropland agricultural feasibility agricultural prices agricultural production agricultural revenue analysis annual changes in forested Clean Water Act conversion and abandonment conversion costs conversion of forested Corps of Engineers cost of conversion county-speciﬁc component deﬁned drainage projects drainage provision DRYi dynamic optimization model Econometrica econometrically estimated effect Environmental Defense Fund equation error term factual simulation feasible land Federal ﬂood-control Federal projects ﬁeld ﬁrst ﬂood protection ﬂood-control and drainage FNit forested acreage forested wetlands forestry revenue gijt hardwood heterogeneity identiﬁed incentive individual Joumal land parcels land-use landowners Lower Mississippi Alluvial million acres Mississippi Alluvial Plain natural resource natural topography necessary conditions nonrenewable resource parameters partial adjustment period t-1 Project Impact protection and drainage quality distribution reﬂect sawlogs and pulpwood share of county signiﬁcant Soil Conservation Service speciﬁcation Stavins U.S. Army Corps U.S. Congress U.S. Department U.S. Forest Service variables vijt wetlands to agricultural