Economics of Conservation Easements

Authored by: Anna Ebers , David Newman

Handbook of Forest Resource Economics

Print publication date:  April  2014
Online publication date:  April  2014

Print ISBN: 9780415623247
eBook ISBN: 9780203105290
Adobe ISBN: 9781136253294

10.4324/9780203105290.ch28

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Abstract

This chapter examines characteristics of conservation easements (CEs) in general and working forest conservation easements (WFCEs) in the United States in particular. It looks at landowner incentives for instituting easements, outlines the methods for easement appraisal and evaluates ways to measure easement performance. The chapter discusses the challenges for CEs that arise due to market imperfections, such as information asymmetry, limited transparency, governmental involvement, principal-agent problems, intergenerational equity, transaction costs and private amenity rents. The chapter concludes with a review of easement effects on land prices and opportunities for future research.

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