Potential Cost-Effectiveness of Incentive Payment Programs for Biological Conservation

Juha Siikamäki and David F. Layton

RFF Working Paper Series from Resources for the Future

Abstract: This study assesses the potential cost-effectiveness of incentive payment programs relative to traditional top-down regulatory programs for biological conservation. We develop site-level estimates of the opportunity cost and the nonmonetized biological benefits of protecting biodiversity hotspots in Finnish nonindustrial private forests. We then use these estimates to compare and contrast the cost-effectiveness of alternative conservation programs. Our results suggest that incentive payment programs, which tacitly capitalize on landowners’ private knowledge about the opportunity costs of conservation, may be considerably more cost-effective than traditional top-down regulatory programs.

Keywords: biodiversity conservation; incentive payments; cost-effectiveness; opportunity cost; biological benefits; non-industrial private forests (search for similar items in EconPapers)
JEL-codes: C42 C46 Q15 Q20 Q21 Q23 Q57 (search for similar items in EconPapers)
Date: 2006-06-13
New Economics Papers: this item is included in nep-agr and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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