Clayton Michaud

Clayton P. Winters-Michaud

Research Agricultural Economist


Clayton Michaud is a research agricultural economist in the Farm Economy Branch of the Resource and Rural Economics Division of USDA's Economic Research Service (ERS). In his current position, he focuses on land use trends and agricultural finance issues. Additional research interests include behavioral economics, quantitative modeling, and bioeconomic/agent-based modeling.


Before joining ERS in December 2020, Clayton worked as a post-doctoral research fellow at the University of New Hampshire, and taught undergraduate courses on Environmental and Natural Resource Economics as well as Water Economics at the University of Rhode Island. He has also co-authored economic impact studies for a variety of clients including State governments and conservation groups.


Clayton received his bachelor's degree in economics from the University of Massachusetts, Dartmouth in 2012 and his doctorate in environmental and natural resource economics from the University of Rhode Island in 2018.

Selected Publications

Michaud, Clayton P. and Thomas W. Sproul. 2018. "Bayesian Downscaling Methods for Aggregated Count Data." Agricultural and Resource Economics Review 47(1):178-94.

Sproul, Thomas W., and Clayton P. Michaud. 2017. "Heterogeneity in Loss Aversion: Evidence from Field Elicitations." Agricultural Finance Review 77(1): 196-216.

Uchida, Emi, Stephen K. Swallow, Arthur Gold, James Opaluch, Achyut Kafle, Nathaniel Merrill, Clayton P. Michaud, and Carrie Anne Gill. 2018. "Integrating Watershed Hydrology and Economics to Establish a Local Market for Water Quality Improvement: A Field Experiment." Ecological Economics 146: 17-25.