Extending the Economic Life of the Ogallala Aquifer with Water Conservation Policies in the Texas Panhandle

The continued decline in the availability of water from the Ogallala Aquifer in the Texas Panhandle has led to an increased interest in conservation policies designed to extend the life of the aquifer and sustain rural economies. Four counties were chosen for evaluation. This study evaluates the effectiveness of five policies in terms of changes in the saturated thickness, crop mix, water use per acre, and the net present value of farm profits over a 60-year planning horizon. The dynamic optimization models were developed using GAMS for the baseline as well as one for all five of the policy alternatives for each county. Results indicate that the policy scenarios of biotechnology adoption and a water use restriction will conserve the most water among the policies analyzed. In terms of economic returns, the biotechnology adoption policy by far provides the greatest benefit to producers due to yield increases that are estimated with current annual growth rates in new seed varieties. The water use restriction policy, on the other hand, has the lowest net present value of returns, indicating that conservation is accompanied with significant costs to producers. The irrigation adoption technology scenario is the next best policy in terms of net present value of returns (following biotechnology);however, it ranks last in terms of reducing aquifer depletion. It is important to note that while the models do not perfectly predict the factors being evaluated, it is the basis for comparison between the policy scenarios which are important. These comparisons will aid policy makers in determining the most effective strategy to conserve water while simultaneously considering the economic costs to producers. In addition, the results of this study can be applied to other areas facing similar conditions, either currently or in the future, throughout the Texas Panhandle.

Is Business School Performance Impacted by Market Orientation Toward Students, Employers of Students, and Parents of Students？ Views from Accounting Department Chairpersons, Business School Deans, and Academic Vice-Presidents of AACSB Business Schools

This paper is part of a continuing research stream dealing with organizational behavior and performance in higher education, specifically within AACSB-Intemational business schools. Using responses to a national survey sent to AACSB-International members schools located in the United States, we report market orientation levels toward students, parents of students, and employers of students as well as levels of organizational performance reported by accounting department chairpersons, business school deans, and academic vice-presidents. Theory and empirical research suggest that higher levels of market orientation result in higher levels of organizational performance. Comparisons of the various input scores for each customer group （students, parents of students, and employers of students） submitted by the survey respondents are made against a benchmark established for businesses in the marketing literature and then scores are compared by administrative groups against one another. Finally, regression analysis is used to determine if the reported levels of organizational performance are impacted by the levels of reported market orientation. Altogether, 101 accounting department chairpersons, 130 business school deans, and 110 academic vice-presidents responded. The paper presents details of the research process, findings, statistical inferences, and discusses the implications of the research for schools of business and academic accounting departments.

Does Climatic Variability Influence Agricultural Land Prices under Differing Uses? The Texas High Plains Case

The Texas High Plains faces projections of increasing temperature and declining precipitation in the future on account of its semi-arid climate. This research evaluated the impact of climatic variability on agricultural land prices under different land uses in the Texas High Plains, employing the Ricardian approach of land climate pricing over a study period of 1991-2011. The results indicate that climatic variability had a greater impact on irrigated land prices as compared to dryland and ranchland. This study could be instrumental in predictive market analyses of rural land values in semi-arid economies which are vulnerable to future climate change.