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Potential Cost-Effectiveness of Incentive Payment Programs for the Protection of Non-Industrial Private Forests

  • Juha Siikamäki
  • David F. Layton

This study assesses the potential cost-effectiveness of incentive payment programs relative to traditional, top-down regulatory programs for biological conservation. We develop site-level estimates of the opportunity cost and non-monetized biological benefits of protecting biodiversity hotspots in Finnish non-industrial private forests. We then use these estimates to contrast and compare the cost-effectiveness of alternative conservation programs. Our results suggest that incentive payment programs, which tacitly capitalize on landowners’ private knowledge about the opportunity costs of conservation, may be considerably more cost-effective than traditional, top-down regulatory programs.

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File URL: http://le.uwpress.org/cgi/reprint/83/4/539
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 83 (2007)
Issue (Month): 4 ()
Pages: 539-560

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Handle: RePEc:uwp:landec:v:83:y:2007:i:4:p:539-560
Contact details of provider: Web page: http://le.uwpress.org/

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