2006/01/19 by David A. Newburn, Peter Berck, Adina M. Merenlender · 1 citation
Economics, Econometrics and Finance · Environmental Science · #Economic and Environmental Valuation #Land Use and Ecosystem Services #Forest Management and Policy
paper · doi:10.1111/j.1467-8276.2006.00837.x
openalex publication_date 2006/01/19 · openalex created_date 2025/10/10 · openalex updated_date 2026/06/26
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.