Grassland easement acquisition: Conversion hazard rate, additionality, spatial spillover, and heuristics

Ruiqing Miao, Hongli Feng, David Hennessy, Gaurav Arora and Charles R. Loesch

Applied Economic Perspectives and Policy, 2023, vol. 45, issue 2, 928-946

Abstract: This study investigates optimal grassland easement acquisition strategies with a focus on the roles of environmental benefit additionality and spatial spillover effect of grassland conversion. Numerical analysis shows that the optimal solution under a targeting strategy that does not consider any spatial spillover effect may secure less environmental benefit additionality than does a heuristic algorithm that considers spatial spillover. Moreover, heuristic algorithms that consider either conversion probability or spatial spillover can generally achieve more than 97% of environmental benefit additionality obtained under the optimal solution of a targeting strategy that considers both additionality and spatial spillover.

Date: 2023
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https://doi.org/10.1002/aepp.13318

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Persistent link: https://EconPapers.repec.org/RePEc:wly:apecpp:v:45:y:2023:i:2:p:928-946

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