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Capitalized Costs of Habitat Conservation Easements

Author

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  • Chad Lawley
  • Charles Towe

Abstract

Perpetual conservation easements permanently remove the option to convert existing habitat to more intensive agricultural production. If existing habitat is at threat of conversion, removing the option to convert will reduce land values. In this article, we estimate the land value discount resulting from perpetual habitat conservation easements by using propensity score matching. We find that on the average eased parcel, land values fall by approximately $86 per acre for every acre of eased habitat. On average, our results suggest that landowners have been adequately compensated and conservation agencies have successfully secured habitat at risk of conversion.

Suggested Citation

  • Chad Lawley & Charles Towe, 2014. "Capitalized Costs of Habitat Conservation Easements," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(3), pages 657-672.
    • Handle: RePEc:oup:ajagec:v:96:y:2014:i:3:p:657-672.
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    File URL: http://hdl.handle.net/10.1093/ajae/aau012
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    Citations

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    Cited by:

    1. Arata, Linda & Hauschild, Sofia & Sckokai, Paolo, 2018. "Economic and social impact of grape growing in Northeastern Brazil," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 6(3), May.
    2. Arata, Linda & Hauschild, Sofia & Sckokai, Paolo, 2017. "Socio-economic impact of grape growing in North-eastern Brazil," 2017 Sixth AIEAA Conference, June 15-16, Piacenza, Italy 261264, Italian Association of Agricultural and Applied Economics (AIEAA).
    3. Malakoff, Kaitlyn Lee & Nolte, Christoph, 2023. "Estimating the parcel-level impacts of agricultural conservation easements on farmland loss using satellite data in New England," Land Use Policy, Elsevier, vol. 132(C).
    4. James Rude & Alfons Weersink, 2018. "The Potential for Cross‐Compliance in Canadian Agricultural Policy: Linking Environmental Goals with Business Risk Management Programs," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(3), pages 359-377, September.
    5. Karwowski, Nicole, 2023. "The Effects of Wetland Easements on Agricultural Yields," 2023 Annual Meeting, July 23-25, Washington D.C. 335462, Agricultural and Applied Economics Association.
    6. Ay, Jean-Sauveur & Latruffe, Laure, 2013. "The Empirical Content of the Present Value Model: A survey of the instrumental uses of farmland prices," Working papers 157112, Factor Markets, Centre for European Policy Studies.
    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. Lawley, Chad & Yang, Wanhong, 2015. "Spatial interactions in habitat conservation: Evidence from prairie pothole easements," Journal of Environmental Economics and Management, Elsevier, vol. 71(C), pages 71-89.
    9. Eric Asare & Lloyd‐Smith Patrick & Belcher Kenneth, 2022. "Spatially explicit modeling of wetland conservation costs in Canadian agricultural landscapes," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 70(1), pages 5-19, March.

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