Assessing Investment in Future Landsat Instruments: The Example of Forest Carbon Offsets
We extend the theory of quality-adjusted expenditure indices to estimate benefits from public investment. In particular, we model the selection of new instruments (in the form of remote-sensing devices) to enhance the longest-operating U.S. satellite-based land-observing program, Landsat. We then apply the model to the use of Landsat in measuring global forest carbon sequestration. Improving measurement of the role of forests in storing carbon has become a prominent concern in climate policy. By characterizing the value of Landsat data in forest measurement, the expenditure function allows us to help inform public investment decisions in the satellite system. The expenditure function also makes explicit the sensitivity of the selection of instruments for the satellites to the value of Landsat information, thus linking instrument choice explicitly to policy design.
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- Macauley, Molly K., 2009. "Earth Observations in Social Science Research for Management of Natural Resources and the Environment: Identifying the Contribution of the U.S. Land Remote Sensing (Landsat) Program," Discussion Papers dp-09-01, Resources For the Future.
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- Kim, Man-Keun & McCarl, Bruce A. & Murray, Brian C., 2008. "Permanence discounting for land-based carbon sequestration," Ecological Economics, Elsevier, vol. 64(4), pages 763-769, February.
- Brian C. Murray & Bruce A. McCarl & Heng-Chi Lee, 2004.
"Estimating Leakage from Forest Carbon Sequestration Programs,"
UWO Department of Economics Working Papers
20043, University of Western Ontario, Department of Economics, revised Mar 2003.
- Brian C. Murray & Bruce A. McCarl & Heng-Chi Lee, 2004. "Estimating Leakage from Forest Carbon Sequestration Programs," Land Economics, University of Wisconsin Press, vol. 80(1), pages 109-124.
- Anger, Niels & Dixon, Alistair & Livengood, Erich, 2009. "Interactions of Reduced Deforestation and the Carbon Market: The Role of Market Regulations and Future Commitments," ZEW Discussion Papers 09-001, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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