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Assigning priority to environmental policy interventions in a heterogeneous world

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  • Paul J. Ferraro

    (Andrew Young School of Policy Studies, Georgia State University)

Abstract

Failure to consider costs as well as benefits is common in many policy initiatives and analyses, particularly in the environmental arena. Economists and other policy scientists have demonstrated that integrating both cost and benefit information explicitly into the policy process can be vital to ensuring that scarce funds go as far as they can toward achieving policy objectives. The costs of acquiring and analyzing such information, however, can be substantial. The objective of this paper is to help policy analysts and practitioners identify the conditions under which integrating cost and benefit information is likely to be vital to effective decisionmaking, and the conditions under which failing to use both cost and benefit data would result in little, if any, loss in efficiency. These points are illustrated through a conceptual discussion and an empirical analysis of a conservation initiative in the United States. © 2003 by the Association for Public Policy Analysis and Management.

Suggested Citation

  • Paul J. Ferraro, 2003. "Assigning priority to environmental policy interventions in a heterogeneous world," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 22(1), pages 27-43.
  • Handle: RePEc:wly:jpamgt:v:22:y:2003:i:1:p:27-43
    DOI: 10.1002/pam.10094
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    File URL: http://hdl.handle.net/10.1002/pam.10094
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    Cited by:

    1. Duke, Joshua M. & Dundas, Steven J. & Johnston, Robert J. & Messer, Kent D., 2014. "Prioritizing payment for environmental services: Using nonmarket benefits and costs for optimal selection," Ecological Economics, Elsevier, vol. 105(C), pages 319-329.
    2. Kousky, Carolyn & Walls, Margaret, 2013. "Floodplain Conservation as a Flood Mitigation Strategy: Examining Costs and Benefits," Discussion Papers dp-13-22-rev, Resources For the Future.
    3. Messer, Kent D. & Borchers, Allison M., 2015. "Choice for goods under threat of destruction," Economics Letters, Elsevier, vol. 135(C), pages 137-140.
    4. Kousky, Carolyn & Walls, Margaret, 2014. "Floodplain conservation as a flood mitigation strategy: Examining costs and benefits," Ecological Economics, Elsevier, vol. 104(C), pages 119-128.
    5. Kerchner, Charles & Honzák, Miroslav & Kemkes, Robin & Richardson, Amanda & Townsend, Jason & Rimmer, Christopher C., 2010. "Designing spatially explicit incentive programs for habitat conservation: A case study of the Bicknell's thrush wintering grounds," Ecological Economics, Elsevier, vol. 69(11), pages 2108-2115, September.
    6. Bostian, Moriah B. & Herlihy, Alan T., 2014. "Valuing tradeoffs between agricultural production and wetland condition in the U.S. Mid-Atlantic region," Ecological Economics, Elsevier, vol. 105(C), pages 284-291.
    7. Aweewan Mangmeechai, 2014. "Environmental externalities in relation to agricultural sector in Thailand with trade-linked analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 16(5), pages 1031-1040, October.
    8. Jean-Sauveur Ay, 2015. "Information sur l’hétérogénéité de la terre et délégation de la régulation foncière," Revue d'économie politique, Dalloz, vol. 125(3), pages 453-474.
    9. Cho, Seong-Hoon & Kim, Taeyoung & Larson, Eric R. & Armsworth, Paul R., 2014. "Economies of Scale in Costs of Land Acquisition for Nature Conservation," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 177182, Agricultural and Applied Economics Association.
    10. Drechsler, Martin & Wätzold, Frank & Johst, Karin & Shogren, Jason F., 2010. "An agglomeration payment for cost-effective biodiversity conservation in spatially structured landscapes," Resource and Energy Economics, Elsevier, vol. 32(2), pages 261-275, April.
    11. Vergamini, Daniele & Raggi, Meri & Viaggi, Davide, 2013. "Evaluating the potential contribution of spatially differentiated payments to the efficiency of Agri-Environmental Measures: A resource allocation model for Emilia Romagna (Italy)," 2013 Second Congress, June 6-7, 2013, Parma, Italy 150235, Italian Association of Agricultural and Applied Economics (AIEAA).
    12. Kousky, Carolyn & Walls, Margaret & Chu, Ziyan, 2013. "Flooding and Resilience: Valuing Conservation Investments in a World with Climate Change," Discussion Papers dp-13-38, Resources For the Future.
    13. Kim, Taeyoung & Cho, Seong-Hoon & Larson, Eric R. & Armsworth, Paul R., 2014. "Protected area acquisition costs show economies of scale with area," Ecological Economics, Elsevier, vol. 107(C), pages 122-132.
    14. Cho, Seong-Hoon & Kim, Taeyoung & Larson, Eric R. & Armsworth, Paul R., 2017. "Economies of scale in forestland acquisition costs for nature conservation," Forest Policy and Economics, Elsevier, vol. 75(C), pages 73-82.
    15. Ferraro, Paul J., 2008. "Asymmetric information and contract design for payments for environmental services," Ecological Economics, Elsevier, vol. 65(4), pages 810-821, May.
    16. repec:eee:ecolec:v:143:y:2018:i:c:p:170-187 is not listed on IDEAS
    17. Wätzold, Frank & Drechsler, Martin, 2014. "Agglomeration payment, agglomeration bonus or homogeneous payment?," Resource and Energy Economics, Elsevier, vol. 37(C), pages 85-101.
    18. Albers, Heidi J. & Robinson, Elizabeth J.Z., 2007. "Spatial-temporal aspects of cost-benefit analysis for park management: An example from Khao Yai National Park, Thailand," Journal of Forest Economics, Elsevier, vol. 13(2-3), pages 129-150, August.
    19. repec:eee:ecolec:v:138:y:2017:i:c:p:139-144 is not listed on IDEAS
    20. Perhans, Karin & Glöde, Dan & Gilbertsson, Jessica & Persson, Anette & Gustafsson, Lena, 2011. "Fine-scale conservation planning outside of reserves: Cost-effective selection of retention patches at final harvest," Ecological Economics, Elsevier, vol. 70(4), pages 771-777, February.
    21. Sarah C. Davis & Derek Kauneckis & Natalie A. Kruse & Kimberley E. Miller & Michael Zimmer & Geoffrey D. Dabelko, 2016. "Closing the loop: integrative systems management of waste in food, energy, and water systems," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 6(1), pages 11-24, March.
    22. Boyd, James & Epanchin-Niell, Rebecca & Siikamaki, Juha, 2012. "Conservation Return on Investment Analysis: A Review of Results, Methods, and New Directions," Discussion Papers dp-12-01, Resources For the Future.

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