Valuing farmland improvements is important for individual farmers and policy makers. This paper demonstrates the use of a hedonic land value study to determine the value of erosion control and drainage using data from North Carolina. Land values are significantly affected by both potential erosivity and drainage requirements. This study's estimates are compared with estimates derived from a variety of other types of studies.

Residential water demand is estimated as a function of temperature, rainfall, house value, water price, and household size using monthly cross‐section and time‐series meter readings from 261 residential households in Raleigh, North Carolina, between May 1969 and December 1974. Tests for validity of assumptions are made, and a methodological approach is used that provides unbiased estimates of parameters and standard errors with data that exhibit serially correlated residuals. Demand relations are estimated for total residential, winter, and sprinkling demands. Sprinkling use per period per customer for each year is estimated by subtracting winter (November–April) from summer (May–October) use. Household size explained the largest proportion of the variation in the data. Estimated sprinkling demand was found to be highly responsive to changes in water price and the level of the climatic variables, while total residential demand and winter demand were less responsive to price changes.

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The paper tests 'twoalternative specifications for the opportunity cost of time in travel cost models. The standard travel cost survey design is enriched to include a contingent valuation type question about peoples' willingness to accept compensation to forgo a precisely defined recreational experience. It is hypothesized that individually revealed value of time more appropriately reflects the opportunity costs of time associated with a particular aspect of recreation than the wage rate which measures the trade-off between work and leisure generally. The results seem to indicate a better overall tit for the models with the elicited value of individual consumer's time than for the models with the more traditional hourly earnings (wage rates). The importance of the correct measurement of the opportunity cost time is illustrated by showing that estimated consumer surpluses based on two different value of time measurements differ significantly.