Craig A. Bond

Photo of Craig Bond
QA Manager, Forces and Resources Policy Center (FRP), National Security Research Division (NSRD); Senior Economist; Professor, Pardee RAND Graduate School
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 at the RAND Corporation who specializes in natural resource and environmental economics, including stochastic dynamic modeling, resource valuation, consumer and producer choice, and applied welfare economics. He is also a professor at Pardee RAND Graduate School.

He has led and participated in RAND projects that span many topics, including risk in acquisitions, unit readiness, tour lengths, and the economic impacts of various events. On the civilian side, he has worked on resilience issues, valuation of ecosystem services, environmental and economic impacts of long-term changes along the Louisiana and Florida coasts, the relationship between economic growth and environmental quality in Australia, and evaluating the technical transition of the U.S. telephone system to more modern technologies, among other projects.

Past research includes a diverse array of applied projects, including the optimal management of high elevation ecosystems in the American West, the economic impacts of invasive species, the economic contributions of aquacultural suppliers of recreational fish, and the economics of genetically modified rice. Behavioral stated-preference studies include 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 of ecosystem services, 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 dynamic games, agent-based modelling, and economic modelling.

Pardee RAND Graduate School Courses

Recent Projects

  • Valuing the Resilience Dividend
  • Consortium for Resilient Gulf Communities
  • Economic Evaluation of Coastal Land Loss in Louisiana
  • Australia's Comparative Advantage: Implications of Australian Economic Growth for Environmental Quality

Selected Publications

Bair, L.S., C.B.Yackulic, M.R. Springborn, M.N. Reimer, C.A. Bond, and L.G. Coggins, "Identifying Cost-Effective Invasive Species Control to Enhance Endangered Species Populations in the Grand Canyon, USA," Biological Conservation , 220, 2018

C.A. Bond, "Valuing Coastal Natural Capital in a Bioeconomic Framework," Water Economics and Policy, 3(2), 2017

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

C.A. Bond, J.L. Lewis, H.A. Leonard, J. Pollak, C. Guo and B.D. Rostker, Tour Lengths, Permanent Changes of Station, and Alternatives for Savings and Improved Stability, RAND Corporation (RR-1034-OSD), 2016

Y.H. Farzin and C.A. Bond, "Does Political Ideology Matter for Environmental Quality Outcomes?" Environmental Economics, 5(2), 2014

J. Meldrum, P. Champ., and C.A. Bond, "Heterogeneous Nonmarket Benefits of Managing White Pine Blister Rust in High Elevation Pine Forests," Journal of Forest Economics, 19, 2013

D. Deisenroth, J. Loomis, and C.A. Bond, "Using Revealed Preference Behavioral Models to Correctly Account for Substitution Effects in Economic Impact Analysis," Journal of Regional Analysis and Policy, 43(2), 2013

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


  • 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