The Relative Influences of Land-owner and Landscape Heterogeneity on Land Use

Hugh Kelley and Tom Evans
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Tom Evans: Department of Economics, National University of Ireland, Galway

No 147, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: To what extent are stakeholders’ land use decisions influenced by heterogeneous land-use preferences, spatial externalities, and heterogeneous suitability features? To explore this issue we develop and calibrate a heterogeneous-agent portfolio-theory model to the 1940-1993 Indiana land-use history. Calibration exercises demonstrate that our spatially explicit approach provides an accurate description of owners in our study area. Comparative statics simulations indicate that owners’ heterogeneous calibrated preference parameters marginally influence the landscape more than suitability and externality parameters. Policy simulations demonstrate that weaker multi-policy management strategies targeting heterogeneities and spatial interactions can be more effective than strong single-policy approaches.

Keywords: Algorithmic Trading; MACD (search for similar items in EconPapers)
JEL-codes: C60 (search for similar items in EconPapers)
Date: 2009, Revised 2009
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Persistent link: https://EconPapers.repec.org/RePEc:nig:wpaper:0147

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