Estimating the Environmental Impact of Land and Production Decisions with Multivariate Selection Rules and Panel Data
提出一种处理土地选择中多元选择和动态问题的估计方法，应用于多产出利润函数和农场面板数据，发现Tobit模型被拒绝，忽略多元选择或固定效应会导致政策建议偏差。
We propose an estimation procedure dealing with multivariate selection and dynamics in land choice and unobserved heterogeneity in structural and crop selection equations. The method is applied to a multi‐output profit function with multiple corner solutions and farm‐level panel data. Estimation results reveal that the single selection rule associated with the Tobit procedure is rejected in favor of our multivariate selection treatment. Inconsistent estimates are expected with the Tobit procedure, or if farmer fixed effects are omitted, which can have important consequences for policy recommendations, as illustrated in an evaluation of nitrogen runoff elasticities with respect to economic variables.