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Conservation Payments under Risk: A Stochastic Dominance Approach

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Author Info
Pablo Benítez
Timo Kuosmanen
Roland Olschewski
G. Cornelis van Kooten

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Abstract

Conservation payments can be used to preserve forest and agroforest systems. To explain landowners’ land-use decisions and determine appropriate conservation payments, it is necessary to focus on revenue risk. Marginal conditional stochastic dominance rules are used to derive conditions for determining the conservation payments required to guarantee that the environmentally-preferred land use dominates. An empirical application to shaded-coffee protection in the biologically important Chocó region of West-Ecuador shows that conservation payments required for preserving shaded-coffee areas are much higher than those calculated under risk-neutral assumptions. Further, the extant distribution of land has strong impacts on the required payments.

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File URL: http://web.uvic.ca/~kooten/REPA/WorkingPaper2005-14.pdf
File Format: application/pdf
File Function: Final version, 2005
Download Restriction: no

Publisher Info
Paper provided by University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group in its series Working Papers with number 2005-14.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 42 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:rep:wpaper:2005-14

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Related research
Keywords: agroforest systems; conservation payments; land allocation; portfolio diversification; risk; stochastic dominance;

Other versions of this item:

Find related papers by JEL classification:
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
R14 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Land Use Patterns

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Catherine M. Chambers & Paul E. Chambers & John R. Crooker & John C. Whitehead, 2008. "Stochastic Dominance, Entropy and Biodiversity Management," Working Papers 0807, University of Central Missouri, Department of Economics & Finance, revised May 2008. [Downloadable!]
    Other versions:
  2. Kitti, Mitri & Heikkila, Jaakko & Huhtala, Anni, 2006. "Fair policies for the coffee trade - protecting people or biodiversity?," Discussion Papers 11858, MTT Agrifood Research Finland. [Downloadable!]
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This page was last updated on 2009-11-4.

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