Habitat and open space at risk and the prioritization of conservation easements

David Newburn, Peter Berck and Adina Merenlender

No 19345, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Funds available to purchase land and easements for conservation purposes are limited. This article provides a targeting strategy for protecting multiple environmental benefits that includes heterogeneity in land costs and probability of land-use conversion, by incorporating spatially explicit land-use change and hedonic price models. This strategy is compared to two alternative strategies that omit either land cost or conversion threat. Based on dynamic programming and Monte Carlo simulations with alternating periods of conservation and development, we demonstrate that the positive correlation between land costs and probability of land-use conversion affects targeting efficiency using parcel data from Sonoma County, California.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 39
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19345

DOI: 10.22004/ag.econ.19345

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