Equity Considerations for Wetland Retention Programs: Using a Stochastic Frontier Approach to Investigate Policy Alternatives
This analysis presents a stylized depiction of a government program such as the wetland reserve, where a social planner determines which types of wetlands are brought into production and which are left idle. If the planner is concerned with the dispersion or variance of benefits across producers as well as the mean, his decision problem is algebraically equivalent to a mean-variance portfolio model for a risk-averse individual. The model also identifies an efficient frontier of policies under various â€œinequality toleranceâ€ levels. Based on available survey data, I apply this method to determine the effects of wetland dispersion on producersâ€™ income.
Volume (Year): 32 (2002)
Issue (Month): 2 ()
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- Stavins, Robert N & Jaffe, Adam B, 1990. "Unintended Impacts of Public Investments on Private Decisions: The Depletion of Forested Wetlands," American Economic Review, American Economic Association, vol. 80(3), pages 337-52, June.
- Ralph J. Brown, 1976. "A Study of the Impact of the Wetlands Easement Program on Agricultural Land Values," Land Economics, University of Wisconsin Press, vol. 52(4), pages 509-517.
- Randall A. Kramer & Leonard Shabman, 1993. "The Effects of Agricultural and Tax Policy Reform on the Economic Return to Wetland Drainage in the Mississippi Delta Region," Land Economics, University of Wisconsin Press, vol. 69(3), pages 249-262.
- Edward B. Barbier, 1994. "Valuing Environmental Functions: Tropical Wetlands," Land Economics, University of Wisconsin Press, vol. 70(2), pages 155-173.
- Leonard Shabman & Michael K. Bertelson, 1979. "The Use of Development Value Estimates for Coastal Wetland Permit Decisions," Land Economics, University of Wisconsin Press, vol. 54(2), pages 213-222.
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