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Optimal Land Development with Endogenous Environmental Amenities

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  • JunJie Wu
  • Elena G. Irwin

Abstract

A spatially explicit model of the optimal timing and location of land development is presented that incorporates dynamic interactions between land development and water quality. Ignoring two-way interactions leads to a lower level of water quality, more development, and lower social welfare. The optimal pace and pattern of development can be achieved through the assessment of an impact fee that internalizes pollution damages and irreversibility costs. Our results demonstrate the importance of accounting for the spatial dimension of land use, the interdependence between land use and environmental quality, and development irreversibility in models of urbanization and amenity-driven growth. Copyright 2008, Oxford University Press.

Suggested Citation

  • JunJie Wu & Elena G. Irwin, 2008. "Optimal Land Development with Endogenous Environmental Amenities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(1), pages 232-248.
    • Handle: RePEc:oup:ajagec:v:90:y:2008:i:1:p:232-248
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01057.x
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    Cited by:

    1. Rabotyagov, Sergey S. & Lin, Sonja, 2013. "Small forest landowner preferences for working forest conservation contract attributes: A case of Washington State, USA," Journal of Forest Economics, Elsevier, vol. 19(3), pages 307-330.
    2. Thomas Coisnon & Walid Oueslati & Julien Salanié, 2013. "Spatial targeting of agri-environmental policy and urban development," Post-Print halshs-00949730, HAL.
    3. Chen, Yong & Irwin, Elena G. & Jayaprakash, Ciriyam, 2009. "Dynamic modeling of environmental amenity-driven migration with ecological feedbacks," Ecological Economics, Elsevier, vol. 68(10), pages 2498-2510, August.
    4. Qinghua Wu & Xiaoliang Guan & Jun Zhang & Yang Xu, 2019. "The Role of Rural Infrastructure in Reducing Production Costs and Promoting Resource-Conserving Agriculture," IJERPH, MDPI, vol. 16(18), pages 1-13, September.
    5. Dissanayake, Sahan T.M. & Önal, Hayri, 2011. "Amenity driven price effects and conservation reserve site selection: A dynamic linear integer programming approach," Ecological Economics, Elsevier, vol. 70(12), pages 2225-2235.
    6. Picard, P.M. & Tran, T.T.H., 2021. "Small urban green areas," Journal of Environmental Economics and Management, Elsevier, vol. 106(C).
    7. Ruiqing Miao & David A. Hennessy & Hongli Feng, 2022. "Grassland easement evaluation and acquisition with uncertain conversion and conservation returns," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 70(1), pages 41-61, March.
    8. Lynch, Lori & Geoghegan, Jacqueline, 2011. "FOREWORD: The Economics of Land Use Change: Advancing the Frontiers," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(3), pages 1-6, December.

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