Cost Effective Conservation Planning: Twenty Lessons from Economics
AbstractEconomists advocate that the billions of public dollars spent on conservation should be allocated to achieve the largest possible social benefit. This is what we term “cost-effective conservation”-- a process that incorporates both benefits and costs that are measured with money. This controversial proposition has been poorly understood and not implemented by conservation planners. Drawing from evidence from the largest conservation programs in the United States, this paper seeks to improve the communication between economists and planners and overcome resistance to cost-effective conservation by addressing the open questions that likely drive skepticism among non-economists and by identifying best practices for project selection. We first delineate project-selection strategies and compare them to optimization. Then we synthesize the body of established research findings from economics into 20 practical lessons. Based on theory, policy considerations, and empirical evidence, these lessons illustrate the potential gains from improving practices related to cost-effective selection and also address how to overcome landowner-incentive challenges that face programs.
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Bibliographic InfoPaper provided by University of Delaware, Department of Economics in its series Working Papers with number 12-01.
Length: 36 pages
Date of creation: 2012
Date of revision:
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Postal: Purnell Hall, Newark, Delaware 19716
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Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
More information through EDIRC
conservation planning; cost-effectiveness; nonmarket valuation; benefit cost targeting; optimization; prioritization;
Find related papers by JEL classification:
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-03-14 (Agricultural Economics)
- NEP-ALL-2012-03-14 (All new papers)
- NEP-ENV-2012-03-14 (Environmental Economics)
- NEP-PPM-2012-03-14 (Project, Program & Portfolio Management)
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