As a graduate student, Hobby developed his research emphasis on non- market valuation of Ecological Goods and Services. His works were co-authored by his supervisor and others.

• van Kooten, G.C., R. Thomsen, T.G. Hobby, 2006. Resolving Range Conflict in Nevada? Buyouts and Other Compensation Alternatives. Review of Agricultural Economics. Vol. 28, no. 4, (2006): 515-530.
• van Kooten, G.C. R. Thomsen, T.G. Hobby and A.J. Eagle, 2005. Social Dilemmas and Range Management in Nevada, Ecological Economics. Vol. 57, no. 4, (2006): 709-723.