Previous studies indicate that “hesitation” and “skepticism” are important barriers to the development of renewable energy industries in the United States. We examine whether key pecuniary and nonpecuniary characteristics of bioenergy crops underlie the hesitation argument. Based on a stated choice experiment, we find that Midwestern producers appreciate certain crop attributes that are found in switchgrass, but not in conventional crops. We also find that producers would be willing to grow switchgrass-like crops for net margins between $222/acre/year and $247/acre/year in marginal counties. We argue that farmers’ hesitation and skepticism toward bioenergy crops can be overcome.

This study investigates a hypothesized positive relationship between the number and strength of network ties and the performance of wineries in emerging production regions, which may face different challenges than wineries found in well-established regions. Results corroborate expectations that greater ties to competitors and firms in related tourism food and lodging sectors bolster performance. (JEL Classification: Q130)

A clean hot-water drill was used to gain access to Subglacial Lake Whillans (SLW) in late January 2013 as part of the Whillans Ice Stream Subglacial Access Research Drilling (WISSARD) project. Over 3 days, we deployed an array of scientific tools through the SLW borehole: a downhole camera, a conductivity–temperature–depth (CTD) probe, a Niskin water sampler, an in situ filtration unit, three different sediment corers, a geothermal probe and a geophysical sensor string. Our observations confirm the existence of a subglacial water reservoir whose presence was previously inferred from satellite altimetry and surface geophysics. Subglacial water is about two orders of magnitude less saline than sea water (0.37–0.41 psu vs 35 psu) and two orders of magnitude more saline than pure drill meltwater (<0.002 psu). It reaches a minimum temperature of –0.55~C, consistent with depression of the freezing point by 7.019 MPa of water pressure. Subglacial water was turbid and remained turbid following filtration through 0.45 µm filters. The recovered sediment cores, which sampled down to 0.8 m below the lake bottom, contained a macroscopically structureless diamicton with shear strength between 2 and 6 kPa. Our main operational recommendation for future subglacial access through water-filled boreholes is to supply enough heat to the top of the borehole to keep it from freezing.

The number of wineries in nontraditional cool climate regions of the United States has increased dramatically in the last decade. We examine factors influencing distribution channel choices by these wineries, including winery characteristics, marketing strategies, and the extent of vertical and horizontal integration. Using a survey of winery operators in Michigan, Missouri, and New York, we developed fractional logit models to test hypotheses regarding their distribution channel choices. We find that the share of wine sold through intermediated channels increases with winery size, years of operation, increased vertical and horizontal integration, and greater promotional intensity and levels of self-reported marketing challenges.

Highly turbulent environments require firms to act entrepreneurially. The returns to entrepreneurial activities are known as entrepreneurial rents. Following the payments perspective, these rents are allocated to the entrepreneurial resources of the firm as factor payments. However, unlike other factor payments, little is known about how to value these types of rents. An analysis of the economics and management literature reveals that entrepreneurial rents are a return to alertness, subjective judgment, asset control, and uncertainty bearing. Furthermore, entrepreneurial rents are noncontractible and temporary. This paper introduces two complementary valuation models that capture these characteristics and that explicitly impute value to various entrepreneurial activities.

Scholars argue that the New Institutional Economics (NIE) has not yet provided causal explanations on how long institutions persist or why and how they suffer dramatic changes. Others state that evidence is still inconclusive to define a theoretical justification on how changes and development occur. This article focuses on the institutions of the electricity sector in Brazil, aiming to heighten the body of empirical research in NIE and produce satisfactory explanations that motivate theory refinement. Based on a qualitative approach, we find that the drivers of the first institutional change in Brazil's electricity sector were related to market protection and domestic industrial support. For the second institutional change, economic recession (country at state of bankruptcy, debt crisis, and high inflation rates) and reliability of utility services were the driving factors. We hope this study systematizes historical facts and helps create grounds for our understanding of institutional evolution and economic growth.