Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach

There has been a lively debate about the potential impact of global climate change on US agriculture. Most of the early agro-economic studies predicted large damages. In an innovative paper Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (MNS), propose a new approach: using the variation of t...

Full description

Saved in:
Bibliographic Details
Published in:The American economic review 2005-03, Vol.95 (1), p.395-406
Main Authors: Schlenker, Wolfram, Hanemann, W. Michael, Fisher, Anthony C.
Format: Article
Language:English
Subjects:
Agricultural economics
Agriculture
Arid zones
Climate change
Construction costs
Corn
Crop economics
Crops
Dryland farming
Economic impact
Economic models
Empirical research
Environmental economics
Estimation
Farmers
Farming
Farmlands
Farms
Global warming
Irrigated farming
Irrigation
Irrigation water
Methodology
Modelling
Precipitation
Prices
Production costs
Shorter Papers
Studies
Subsidies
Surface water
U.S.A
Water supply
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
cited_by cdi_FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073
cites cdi_FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073
container_end_page 406
container_issue 1
container_start_page 395
container_title The American economic review
container_volume 95
creator Schlenker, Wolfram
Hanemann, W. Michael
Fisher, Anthony C.
description There has been a lively debate about the potential impact of global climate change on US agriculture. Most of the early agro-economic studies predicted large damages. In an innovative paper Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (MNS), propose a new approach: using the variation of temperature and precipitation across US counties to estimate a reduced-form hedonic equation with the value of farmland as the dependent variable. A change in temperature and/or precipitation is then associated with a change in farmland value, which can be interpreted as the impact of climate change. Several authors have questioned the particular implementation of MNS. Specially, they suggest: 1. the hedonic approach cannot be used to estimate dynamic adjustment costs, 2. the results are not robust across different weighting schemes, and 3. the inadequate treatment of irrigation in the analysis might bias the results.
doi_str_mv 10.1257/0002828053828455
format article
fullrecord <record><control><sourceid>jstor_proqu</sourceid><recordid>TN_cdi_proquest_miscellaneous_38079289</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>4132686</jstor_id><sourcerecordid>4132686</sourcerecordid><originalsourceid>FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073</originalsourceid><addsrcrecordid>eNpdkD1PwzAQhi0EEqWwMzBYDGwp_khiZ0KhgrZSJSSg6hi5jtO6OHaxk6H_HkdFDCz3oXvu3rsD4BajCSYZe0QIEU44ymi0aZadgREu0jRhBcfnYDSUk1ghl-AqhD0acsxG4GutjYGryccElluvZW-63iv4roQxR_isrGp0BxvvWjgzbiMMXAvfart9gqWUrrddjGHjPFx4r7ei085CbWG3U3Cuame1hOXh4J2Qu2tw0QgT1M2vH4PV68vndJ4s32aLablMZFqQLhGIyDQvuBBcbAqpOEOYEVkPd3GpcF5jwjjmddZQhThlmEuS57wWRBQSMToGD6e5Ufa7V6GrWh2kMkZY5fpQUY5YQXgRwft_4N713sbdKkJpVM0yGiF0gqR3IXjVVAevW-GPFUbV8Prq_-tjy92pZR865__4FFOS85z-AI7hffw</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>233017553</pqid></control><display><type>article</type><title>Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach</title><source>EconLit s plnými texty</source><source>International Bibliography of the Social Sciences (IBSS)</source><source>ABI/INFORM Global (ProQuest)</source><source>Business Source Ultimate</source><source>JSTOR Archival Journals and Primary Sources Collection</source><source>Social Science Premium Collection</source><source>American Economic Association</source><creator>Schlenker, Wolfram ; Hanemann, W. Michael ; Fisher, Anthony C.</creator><creatorcontrib>Schlenker, Wolfram ; Hanemann, W. Michael ; Fisher, Anthony C.</creatorcontrib><description>There has been a lively debate about the potential impact of global climate change on US agriculture. Most of the early agro-economic studies predicted large damages. In an innovative paper Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (MNS), propose a new approach: using the variation of temperature and precipitation across US counties to estimate a reduced-form hedonic equation with the value of farmland as the dependent variable. A change in temperature and/or precipitation is then associated with a change in farmland value, which can be interpreted as the impact of climate change. Several authors have questioned the particular implementation of MNS. Specially, they suggest: 1. the hedonic approach cannot be used to estimate dynamic adjustment costs, 2. the results are not robust across different weighting schemes, and 3. the inadequate treatment of irrigation in the analysis might bias the results.</description><identifier>ISSN: 0002-8282</identifier><identifier>EISSN: 1944-7981</identifier><identifier>DOI: 10.1257/0002828053828455</identifier><identifier>CODEN: AENRAA</identifier><language>eng</language><publisher>Nashville: American Economic Association</publisher><subject>Agricultural economics ; Agriculture ; Arid zones ; Climate change ; Construction costs ; Corn ; Crop economics ; Crops ; Dryland farming ; Economic impact ; Economic models ; Empirical research ; Environmental economics ; Estimation ; Farmers ; Farming ; Farmlands ; Farms ; Global warming ; Irrigated farming ; Irrigation ; Irrigation water ; Methodology ; Modelling ; Precipitation ; Prices ; Production costs ; Shorter Papers ; Studies ; Subsidies ; Surface water ; U.S.A ; Water supply</subject><ispartof>The American economic review, 2005-03, Vol.95 (1), p.395-406</ispartof><rights>Copyright 2004 American Economic Association</rights><rights>Copyright American Economic Association Mar 2005</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073</citedby><cites>FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.proquest.com/docview/233017553/fulltextPDF?pq-origsite=primo$$EPDF$$P50$$Gproquest$$H</linktopdf><linktohtml>$$Uhttps://www.proquest.com/docview/233017553?pq-origsite=primo$$EHTML$$P50$$Gproquest$$H</linktohtml><link.rule.ids>314,780,784,3748,11688,12847,21394,27924,27925,33223,33224,33611,33612,36060,36061,43733,44363,58238,58471,74221,74895</link.rule.ids></links><search><creatorcontrib>Schlenker, Wolfram</creatorcontrib><creatorcontrib>Hanemann, W. Michael</creatorcontrib><creatorcontrib>Fisher, Anthony C.</creatorcontrib><title>Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach</title><title>The American economic review</title><description>There has been a lively debate about the potential impact of global climate change on US agriculture. Most of the early agro-economic studies predicted large damages. In an innovative paper Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (MNS), propose a new approach: using the variation of temperature and precipitation across US counties to estimate a reduced-form hedonic equation with the value of farmland as the dependent variable. A change in temperature and/or precipitation is then associated with a change in farmland value, which can be interpreted as the impact of climate change. Several authors have questioned the particular implementation of MNS. Specially, they suggest: 1. the hedonic approach cannot be used to estimate dynamic adjustment costs, 2. the results are not robust across different weighting schemes, and 3. the inadequate treatment of irrigation in the analysis might bias the results.</description><subject>Agricultural economics</subject><subject>Agriculture</subject><subject>Arid zones</subject><subject>Climate change</subject><subject>Construction costs</subject><subject>Corn</subject><subject>Crop economics</subject><subject>Crops</subject><subject>Dryland farming</subject><subject>Economic impact</subject><subject>Economic models</subject><subject>Empirical research</subject><subject>Environmental economics</subject><subject>Estimation</subject><subject>Farmers</subject><subject>Farming</subject><subject>Farmlands</subject><subject>Farms</subject><subject>Global warming</subject><subject>Irrigated farming</subject><subject>Irrigation</subject><subject>Irrigation water</subject><subject>Methodology</subject><subject>Modelling</subject><subject>Precipitation</subject><subject>Prices</subject><subject>Production costs</subject><subject>Shorter Papers</subject><subject>Studies</subject><subject>Subsidies</subject><subject>Surface water</subject><subject>U.S.A</subject><subject>Water supply</subject><issn>0002-8282</issn><issn>1944-7981</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2005</creationdate><recordtype>article</recordtype><sourceid>8BJ</sourceid><sourceid>ALSLI</sourceid><sourceid>M0C</sourceid><sourceid>M2R</sourceid><recordid>eNpdkD1PwzAQhi0EEqWwMzBYDGwp_khiZ0KhgrZSJSSg6hi5jtO6OHaxk6H_HkdFDCz3oXvu3rsD4BajCSYZe0QIEU44ymi0aZadgREu0jRhBcfnYDSUk1ghl-AqhD0acsxG4GutjYGryccElluvZW-63iv4roQxR_isrGp0BxvvWjgzbiMMXAvfart9gqWUrrddjGHjPFx4r7ei085CbWG3U3Cuame1hOXh4J2Qu2tw0QgT1M2vH4PV68vndJ4s32aLablMZFqQLhGIyDQvuBBcbAqpOEOYEVkPd3GpcF5jwjjmddZQhThlmEuS57wWRBQSMToGD6e5Ufa7V6GrWh2kMkZY5fpQUY5YQXgRwft_4N713sbdKkJpVM0yGiF0gqR3IXjVVAevW-GPFUbV8Prq_-tjy92pZR865__4FFOS85z-AI7hffw</recordid><startdate>20050301</startdate><enddate>20050301</enddate><creator>Schlenker, Wolfram</creator><creator>Hanemann, W. Michael</creator><creator>Fisher, Anthony C.</creator><general>American Economic Association</general><scope>AAYXX</scope><scope>CITATION</scope><scope>0-V</scope><scope>0U~</scope><scope>1-H</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X7</scope><scope>7XB</scope><scope>87Z</scope><scope>88C</scope><scope>88E</scope><scope>88J</scope><scope>8BJ</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ALSLI</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>K9.</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M0S</scope><scope>M0T</scope><scope>M1P</scope><scope>M2O</scope><scope>M2R</scope><scope>MBDVC</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope></search><sort><creationdate>20050301</creationdate><title>Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach</title><author>Schlenker, Wolfram ; Hanemann, W. Michael ; Fisher, Anthony C.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2005</creationdate><topic>Agricultural economics</topic><topic>Agriculture</topic><topic>Arid zones</topic><topic>Climate change</topic><topic>Construction costs</topic><topic>Corn</topic><topic>Crop economics</topic><topic>Crops</topic><topic>Dryland farming</topic><topic>Economic impact</topic><topic>Economic models</topic><topic>Empirical research</topic><topic>Environmental economics</topic><topic>Estimation</topic><topic>Farmers</topic><topic>Farming</topic><topic>Farmlands</topic><topic>Farms</topic><topic>Global warming</topic><topic>Irrigated farming</topic><topic>Irrigation</topic><topic>Irrigation water</topic><topic>Methodology</topic><topic>Modelling</topic><topic>Precipitation</topic><topic>Prices</topic><topic>Production costs</topic><topic>Shorter Papers</topic><topic>Studies</topic><topic>Subsidies</topic><topic>Surface water</topic><topic>U.S.A</topic><topic>Water supply</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Schlenker, Wolfram</creatorcontrib><creatorcontrib>Hanemann, W. Michael</creatorcontrib><creatorcontrib>Fisher, Anthony C.</creatorcontrib><collection>CrossRef</collection><collection>ProQuest Social Sciences Premium Collection</collection><collection>Global News &amp; ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Health &amp; Medical Collection</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>Healthcare Administration Database (Alumni)</collection><collection>Medical Database (Alumni Edition)</collection><collection>Social Science Database (Alumni Edition)</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Hospital Premium Collection</collection><collection>Hospital Premium Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>Research Library (Alumni Edition)</collection><collection>ProQuest Central (Alumni)</collection><collection>ProQuest Central</collection><collection>Social Science Premium Collection</collection><collection>ProQuest Central Essentials</collection><collection>AUTh Library subscriptions: ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Business Premium Collection (Alumni)</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>Health Research Premium Collection (Alumni)</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ProQuest Health &amp; Medical Complete (Alumni)</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ABI/INFORM Global (ProQuest)</collection><collection>Health &amp; Medical Collection (Alumni Edition)</collection><collection>Healthcare Administration Database</collection><collection>Medical Database</collection><collection>ProQuest research library</collection><collection>Social Science Database</collection><collection>Research Library (Corporate)</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><jtitle>The American economic review</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Schlenker, Wolfram</au><au>Hanemann, W. Michael</au><au>Fisher, Anthony C.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach</atitle><jtitle>The American economic review</jtitle><date>2005-03-01</date><risdate>2005</risdate><volume>95</volume><issue>1</issue><spage>395</spage><epage>406</epage><pages>395-406</pages><issn>0002-8282</issn><eissn>1944-7981</eissn><coden>AENRAA</coden><abstract>There has been a lively debate about the potential impact of global climate change on US agriculture. Most of the early agro-economic studies predicted large damages. In an innovative paper Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (MNS), propose a new approach: using the variation of temperature and precipitation across US counties to estimate a reduced-form hedonic equation with the value of farmland as the dependent variable. A change in temperature and/or precipitation is then associated with a change in farmland value, which can be interpreted as the impact of climate change. Several authors have questioned the particular implementation of MNS. Specially, they suggest: 1. the hedonic approach cannot be used to estimate dynamic adjustment costs, 2. the results are not robust across different weighting schemes, and 3. the inadequate treatment of irrigation in the analysis might bias the results.</abstract><cop>Nashville</cop><pub>American Economic Association</pub><doi>10.1257/0002828053828455</doi><tpages>12</tpages><oa>free_for_read</oa></addata></record>
fulltext fulltext
identifier ISSN: 0002-8282
ispartof The American economic review, 2005-03, Vol.95 (1), p.395-406
issn 0002-8282
1944-7981
language eng
recordid cdi_proquest_miscellaneous_38079289
source EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); ABI/INFORM Global (ProQuest); Business Source Ultimate; JSTOR Archival Journals and Primary Sources Collection; Social Science Premium Collection; American Economic Association
subjects Agricultural economics
Agriculture
Arid zones
Climate change
Construction costs
Corn
Crop economics
Crops
Dryland farming
Economic impact
Economic models
Empirical research
Environmental economics
Estimation
Farmers
Farming
Farmlands
Farms
Global warming
Irrigated farming
Irrigation
Irrigation water
Methodology
Modelling
Precipitation
Prices
Production costs
Shorter Papers
Studies
Subsidies
Surface water
U.S.A
Water supply
title Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-04T18%3A43%3A41IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Will%20U.S.%20Agriculture%20Really%20Benefit%20from%20Global%20Warming?%20Accounting%20for%20Irrigation%20in%20the%20Hedonic%20Approach&rft.jtitle=The%20American%20economic%20review&rft.au=Schlenker,%20Wolfram&rft.date=2005-03-01&rft.volume=95&rft.issue=1&rft.spage=395&rft.epage=406&rft.pages=395-406&rft.issn=0002-8282&rft.eissn=1944-7981&rft.coden=AENRAA&rft_id=info:doi/10.1257/0002828053828455&rft_dat=%3Cjstor_proqu%3E4132686%3C/jstor_proqu%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c492t-a02c4698aa8ab9ce870172cd82848ce16d127818d5f3e083718c2668da2a9c073%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=233017553&rft_id=info:pmid/&rft_jstor_id=4132686&rfr_iscdi=true