MANAGING PUBLIC AND PRIVATE LAND THROUGH PARTIAL INTERESTS

Keith Wiebe, Abebayehu Tegene and Betsey Kuhn

Contemporary Economic Policy, 1997, vol. 15, issue 2, 35-43

Abstract: As property rights concerns grow along with budget pressures, government agencies charged with balancing resource policy objectives need to consider institutional alternatives to regulation and land purchase. This paper examines how public agencies participate in markets for partial interests in public and private land as a means of influencing resource use and conservation. The paper also reviews the application of real option theory to the valuation of conservation easements and considers potential extensions to other partial interests.

Date: 1997
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