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| Newburn, David A.; Berck, Peter; Merenlender, Adina. |
| Purchasing development rights is a major mechanism for the protection of environmental quality and landscape amenities. This paper provides a targeting strategy for protecting multiple environmental benefits that takes into account land costs and probability of land use conversion. We compare two strategies. Subject to a budget constraint on parcel purchases, the standard strategy is to target parcels with the highest ratio of environmental benefits to land costs. The standard strategy selects parcels even if there is little probability that the parcel would otherwise be converted. Our new strategy targets parcels to minimize the benefit loss from land conversion, which weights parcel based on initial benefit endowment and expected probability of land... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Land Economics/Use. |
| Ano: 2004 |
URL: http://purl.umn.edu/20206 |
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| Newburn, David A.; Berck, Peter; Merenlender, Adina. |
| 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. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/19345 |
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