Water scarcity presents an obstacle to economic development in the western United States. In an attempt to accommodate the increasing levels of demand that population growth, recreation, industry, and environmental protection place on water supplies, western states frequently establish markets for water. Water markets promote efficient allocation, helping states to derive the highest possible economic benefit from available resources, and allowing western water supplies to support as much new development and population growth as possible. However, imperfect pricing information for water threatens the ability of water markets to efficiently allocate water. Correct valuation improves water right allocation by aiding market participants in negotiating and completing sensible transactions despite the limited availability of price signals. This project will estimate the values market participants place on shares of ditch company water rights in Colorado's South Platte basin. Based on observed market activity, the hedonic will method will be used to estimate the implicit value consumers place on each characteristic of a water right, and the contribution of each characteristic to the water right's price. The dataset analyzed in this project includes price, quantity, reliability, location, and type of use information for 254 transfers of ditch company shares. Because these data are proprietary and difficult to collect, this dataset represents one of the most comprehensive collections of water transaction information in existence for Colorado's South Platte basin. It is predicted that the ordinary least squares estimation of the hedonic price model developed in this project will reveal that reliable water supplies located near municipalities attract higher prices than variable water supplies situated downstream from cities. In addition, economies of scale and water price appreciation are predicted to exist in the South Platte basin.
Hunting licenses do not represent the true value of the sport for hunters. This study examines the monetary value hunters, resident and non-resident, place on elk hunting in Colorado and which factors affect their valuation. The contingent valuation method is used to determine this information through a survey that was posted on several internet hunting forums. A hypothetical fee increase in hunting licenses from an improvement in elk habitat is used in the survey. To elicit a response, this study uses a two part question for willingness to pay, which is different from previous studies. First, intervals are presented and then the respondent answers an open-ended question. The data obtained from the survey is analyzed using the Tobit regression method. Separate regression equations are used for resident and non-resident hunters. The study finds that Colorado resident and non-resident hunters have differing views on the amount of license fee increase they would accept and base their decision on different factors.
The National Basketball Association (NBA) is one of the four largest professional sports organizations in the United States. There are currently 23 teams in the NBA that gathered over $100 million in revenue during the 2007-08 season alone. This study examines the components of total NBA franchise revenues and investigates the effect that multiple losing seasons has on total revenue performance. A fixed-effects regression analysis is used to examine the effect of multiple losing seasons on total NBA franchise revenue. All the statistics and data observed in this study are from the 10 year period of 1999 to 2008. The findings in this study provide valuable information to NBA teams as to whether losing consecutive seasons affects total revenue performance.
The study undertaken in this paper will address the subject of the role of organizational culture in the success of GreatAmerica Leasing Corporation (GreatAmerica). This privately held commercial equipment finance firm has, against overwhelming odds, overcome serious competitive shortcomings to become one of the largest entities in a commoditized industry where brand name, cost of funds and expensive systems technology are thought to be overriding competitive advantages. The company has enjoyed a record of impressive financial success competing with some of the largest banking and other corporate giants while selling the exact same commoditized product; money.