Craig A. Bond

Photo of Craig Bond
Research Quality Assurance (QA) Manager, RAND Arroyo Center; Senior Economist; Professor, Pardee RAND Graduate School; Editor-in-Chief, RAND Journal of Economics
Washington Office


Ph.D. in agricultural and resource economics, University of California, Davis; M.S. in economics, Colorado State University; B.A. in economics, Frostburg State University


Craig Bond is an applied microeconomist who specializes in natural resource and environmental economics, including stochastic dynamic modeling, resource valuation, consumer and producer choice, and applied welfare economics.

While at RAND, his work has spanned many topics, including risk in acquisitions, recruiting, unit readiness, tour lengths and the impact of PCS moves on families, general economic analysis, and the economic impacts of various potential events for the military. On the civilian side, he has worked on environmental and economic impacts of long-term changes along the Louisiana coast, the economics of post-disaster recovery in Puerto Rico, modeling strategies for estimating the benefits associated with investments in resilience (including the Resilience Dividend Valuation Model), evaluating the technical transition of the nation’s telephone system to more modern technologies, among other projects. His most recent work is supporting decisions related to nature-based solutions/green infrastructure in various communities. 

Past research includes a diverse array of applied projects, including the optimal management of high elevation ecosystems, the economic impacts of invasive species, and multiple stated-preference studies include off-highway vehicle (OHV) recreation, Stellar sea lion habitat, attributes of irrigation technologies, high elevation forests, food attributes, and attributes of programs that pay for ecosystem services.

Methodologically, he has extensive experience with non-market valuation, as well as panel data and discrete choice econometric methods, and has designed a number of choice-based experiments. His structural modelling work focuses on stochastic dynamic programming approaches to adaptive management planning and assessment and sustainability, as well as other economic modelling applications.

Concurrent Non-RAND Positions

Visiting Associate Professor, University of Stavanger, Norway

Recent Projects

  • Army Cost-per-Effect Analysis
  • Economic Evaluation Framework for NBS for Winter Haven, FL
  • Western Balkans Transportation
  • Puerto Rico Recovery Plan
  • Economic Evaluation of Coastal Land Loss in Louisiana

Selected Publications

Craig A. Bond, Ellen M. Pint, Stephan B. Seabrook, and Christina Panis, Soldier Preferences and Retention Effects of Changes in Army Reserve Training Requirements: An Exploration of Revealed and Stated Behavior. , Santa Monica, Calif.: RAND Corporation (RR-A750-1), 2022

Fischbach, J.R., M.T. Wilson, C.A. Bond, A.K. Kochhar, D. Catt, and D. Tierney, Managing Heavy Rainfall with Green Infrastructure: An Evaluation in Pittsburgh's Negley Run Watershed, Santa Monica, Calif.: RAND Corporation (RR-A564-1), 2020

Finucane, M.L., M.J. Blum, R. Ramchand, A.M. Parker, S.Nataraj, N. Clancy, G. Cecchine, A. Chandra, T. Slack, G. Hobor, R.J. Ferreira, K. Luu, A. Lesen, and C.A. Bond, "Advancing Community Resilience Research and Practice: Moving from “Me” to “We” to “3D”," Journal of Risk Research, 2019

Bond, C.A., A. Strong, T.D. Smith, M. Andrew, J.S. Crown, K.A. Edwards, G.C. Gonzalez, I.A. Gutierrez, L. Kendrick, J.E. Luoto, K. Pratt, K. Patel, A.D. Rothenberg, M. Stalczynski, P.K. Tong, and M.A. Zaber, Challenges and Opportunities for the Puerto Rico Economy: A Review of Evidence and Options Following Hurricanes Irma and Maria in 2017, Homeland Security Operational Analysis Center operated by the RAND Corporation (RR-2600-DHS), 2020

Bond, C.A., M. W. Markel, O. Tkacheva, R.E. Darilek, R.G. Fix, B.W. Hallmark, H.A. Leonard, D. Long, and T. Nichols, A Stated Preference Analysis of the Determinants of Unit and Soldier Operational Effectiveness., Santa Monica, CA: RAND Corporation (RR-1745-A), 2020

Groves, D.G., D. Knopman, N. Berg, C.A. Bond, J. Syme, and R.J. Lempert, Adapting Land Use and Water Management Plans to a Changing Climate in Miami-Dade and Broward Counties, Florida. , RAND Corporation (RR-1932-MCF), 2018

Bond, C.A., A. Strong, N. Burger, S. Weilant, U. Saya and A. Chandra, Resilience Dividend Valuation Model: Framework Development and Initial Case Studies, RAND Corporation (RR-2129-RF), 2017

Barnes, S.R., C. Bond, N. Burger, K. Anania, A. Strong, S. Weilant, and S. Virgets, "Economic Evaluation of Coastal Land Loss in Louisiana," Journal of Ocean and Coastal Economics , 4(3), 2017

Honors & Awards

  • 2016 Bronze Medal Award, RAND Corporation
  • 2015 Spotlight on Innovation Award, RAND Corporation
  • 2012 Outstanding Research Award, College of Agricultural Sciences, Colorado State University


  • Aerial photograph of the devastation caused in the greater New Orleans area following Hurricane Katrina, August 30, 2005, photo by Vincent Laforet/Pool/Reuters

    Planning for the Upcoming Hurricane Season in Light of COVID-19

    What if Hurricane Katrina had hit during a pandemic? Emergency planners can prepare for this scenario by evaluating current response system capacity, evacuation and sheltering procedures, food and supply issues, and more.

    May 4, 2020 Vox

  • The San Antonio Reservoir, near San Francisco, California

    Creating a Smart Market for California Water

    A smart market approach could reduce the transaction costs of trading water in California, allow the price of water to better match its value, and bring that value to the state.

    Sep 13, 2015 Orange County Register