OBESITY AND NUTRIENT CONSUMPTION: A RATIONAL ADDICTION?

Recent research shows that the dramatic rise in obesity in the United States is due more to the overconsumption of unhealthy foods than underactivity. This study tests for an addiction to food nutrients as a potential explanation for the apparent excessive consumption. A random coefficients (mixed) logit model is used to test a multivariate rational addiction model. The results reveal a particularly strong addiction to carbohydrates. The implication of this finding is that price-based policies, sin taxes, or produce subsidies that change the expected future costs and benefits of consuming carbohydrate-intensive foods may be effective in controlling excessive nutrient intake. ( JEL D120, I120, C230)     

MANAGING PUBLIC AND PRIVATE LAND THROUGH PARTIAL INTERESTS

As property rights concerns grow along with budget pressures, government agencies charged with balancing resource policy objectives need to consider institutional alternatives to regulation and land purchase. This paper examines how public agencies participate in markets for partial interests in public and private land as a means of influencing resource use and conservation. The paper also reviews the application of real option theory to the valuation of conservation easements and considers potential extensions to other partial interests.