Thurman, Walter, PhD

Thurman, Walter, PhD
Wm. Neal Reynolds Distinguished Professor
Agricultural and Resource Economics, Department of Economics
Expertise: , , ,

Phone: (919) 515-4545
Fax: (919) 515-6268
Office Address: 3314 Nelson

Degree From: University of Chicago (1984)
Curriculum Vitae
Personal Website
Google Scholar Profile

Walter Thurman conducts research in agricultural markets the economics and political economy of agricultural and natural resource policy. His published work includes empirical studies of quota schemes in the United States for peanuts and tobacco, analysis of the effects of the Clean Water and Clear Air Acts, compensation schemes in the poultry industry, and the economics of bees. He currently is studying the land trust movement and the rise of markets for crop pollination services.

Courses Taught

  • ARE 311 – Agricultural Markets
  • ECG 701 – Microeconomics I
  • ECG 741 – Agricultural Production & Supply


Fatal, Shay and Walter N. Thurman, “The Response of Corn Acreage to Ethanol Plant Siting,” Journal of Agricultural and Applied Economics, 46(2014): 157-171.

Jacobs, Keri L., Walter N. Thurman, and Michele C. Marra, “The Effect of Conservation Priority Areas on Bidding Behavior in the Conservation Reserve Program,” Land Economics, 90(2014): 1-25.

Park, Hoanjae and Walter N. Thurman, “A Bayesian Approach to Aggregation in Demand Systems: Smoothing with Perfect Substitution Priors,” Applied Economics 45(2013): 4416-4426.

Rucker, Randal R., Walter N. Thurman, and Michael Burgett, “Honey Bee Pollination Markets and the Internalization of Reciprocal Benefits,” American Journal of Agricul- tural Economics, 94(2012): 956-977. Received 2012 Quality of Research Discovery Award from the European Association of Agricultural Economists. Named Outstand- ing AJAE Article of 2012.

Moore, Christopher, Daniel J. Phaneuf, and Walter N. Thurman, “A Bayesian Bioeconometric Model of Invasive Species Control: the Case of the Hemlock Woolly Adelgid,” Environmental and Resource Economics, 50(2011): 1-26.

Parker, Dominic P. and Walter N. Thurman, “Crowding Out Open Space: Federal Land Programs and Their Effects on Land Trust Activity,” Land Economics, 87(2011): 202- 222.

Karali, Berna and Walter N. Thurman, “Components of Grain Futures Price Volatility,” Journal of Agricultural and Resource Economics 35(2010): 167-182.

Karali, Berna, Jeffrey H. Dorfman, and Walter N. Thurman, “Delivery Horizon and Grain Market Volatility,” Journal of Futures Markets, 30(2010): 846-873.

Karali, Berna, Jeffrey H. Dorfman, and Walter N. Thurman, “Do Volatility Determinants Vary Across Futures Contracts? Insights from a Smoothed Bayesian Estimator,” Journal of Futures Markets 30(2010): 257-277.

Karali, Berna and Walter N. Thurman, “Announcement Effects and the Theory of Storage: an Empirical Study of Lumber Futures Markets,” Agricultural Economics 40(2009): 421-436.

McFall, Todd A. Charles R. Knoeber, and Walter N. Thurman, “Contests, Grand Prizes and the Hot Hand,” Journal of Sports Economics 10(2009): 236-255.