Land Conversion and Market Equilibrium – Insights from a Simulated Landscape

Richard Iovanna and Colin Vance

No 182, Ruhr Economic Papers from RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen

Abstract: We specify a system of equations that fully reflects the supply and demand sides of the market for agricultural open space at equilibrium. Although simple, the system is exceedingly flexible and allows for household and parcel heterogeneity. We derive an empirical model directly from the structural equations and contrast this using a simulated landscape with the econometric specification most often found in the literature. We then show how the model can be used to project land-use change into the future and for policy simulation. Finally, we use the model to examine the impact of common land conservation policies in Europe.

Keywords: Land-use change; urban sprawl; simulation (search for similar items in EconPapers)
JEL-codes: Q24 R15 (search for similar items in EconPapers)
Date: 2010
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Journal Article: Land conversion and market equilibrium: insights from a simulated landscape (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:rwirep:182

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