IDEAS home Printed from https://ideas.repec.org/a/ags/nareaj/159511.html
   My bibliography  Save this article

Landowner Incentives to Participate in a Purchase of Development Rights Program with Application To Maryland

Author

Listed:
  • Phipps, Tim

Abstract

A theory-based participation model is developed using the assumptions of perfect capital markets and perfect information. Given this specification it is shown that participation in a PDR program is always equivalent in present value terms to selling the land, and is always at least as good as not participating and remaining in farming. In order to investigate participation rates in the Maryland PDR program a less restrictive model is developed which relaxes the perfect capital markets assumption. It is found that a PDR program is most likely to be successful in regions characterized by relatively low levels of development pressure, and least likely to be successful in areas experiencing high rates of growth or areas that are not undergoing development pressure.

Suggested Citation

  • Phipps, Tim, 1983. "Landowner Incentives to Participate in a Purchase of Development Rights Program with Application To Maryland," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 12(1), pages 1-5.
  • Handle: RePEc:ags:nareaj:159511
    DOI: 10.22004/ag.econ.159511
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/159511/files/Landowner%20incentives.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.159511?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Gary Wolfram, 1981. "The Sale of Development Rights and Zoning in the Preservation of Open Space: Lindahl Equilibrium and a Case Study," Land Economics, University of Wisconsin Press, vol. 57(3), pages 398-413.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joshua Duke & Lori Lynch, 2007. "Gauging support for innovative farmland preservation techniques," Policy Sciences, Springer;Society of Policy Sciences, vol. 40(2), pages 123-155, June.
    2. Boggess, William G., 1986. "Implementing The Conservation Reserve Provisions: Potential Risks Facing Farmers," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 272077, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    3. Wichelns, Dennis & Kline, Jeffrey D., 1993. "The Impact Of Parcel Chracteristics On The Cost Of Development Rights To Farmland," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 22(2), pages 1-9, October.
    4. Joshua M. Duke & Lori Lynch, 2006. "Farmland Retention Techniques: Property Rights Implications and Comparative Evaluation," Land Economics, University of Wisconsin Press, vol. 82(2), pages 189-213.
    5. Anderson, Glen D., 1984. "Participation In Voluntary Transfer Of Development Rights Programs: Landowner Incentives And Design Issues," 1984 Annual Meeting, August 5-8, Ithaca, New York 278911, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Horowitz, John K. & Lynch, Lori, 2003. "Getting The Most For Our Money In Farmland Preservation," 2003 Annual meeting, July 27-30, Montreal, Canada 22128, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Joshua Duke & Lori Lynch, 2007. "Gauging support for innovative farmland preservation techniques," Policy Sciences, Springer;Society of Policy Sciences, vol. 40(2), pages 123-155, June.
    2. Geoghegan, Jacqueline & Lynch, Lori & Bucholtz, Shawn, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Cambridge University Press, vol. 32(1), pages 33-45, April.
    3. J. Peter Clinch & Eoin O'Neill, 2010. "Assessing the Relative Merits of Development Charges and Transferable Development Rights in an Uncertain World," Urban Studies, Urban Studies Journal Limited, vol. 47(4), pages 891-911, April.
    4. Robert A. Blewett, 1983. "Fiscal Externalities and Residential Growth Controls: a Theory-of-Clubs Perspective," Public Finance Review, , vol. 11(1), pages 3-20, January.
    5. Lori Lynch & Wesley N. Musser, 2001. "A Relative Efficiency Analysis of Farmland Preservation Programs," Land Economics, University of Wisconsin Press, vol. 77(4), pages 577-594.
    6. Sofia Franco & Antonieta Sa & Renato Rosa, 2011. "Urban Development and Urban Deforestation," ERSA conference papers ersa11p1472, European Regional Science Association.
    7. Lori Lynch & Sabrina J. Lovell, 2003. "Combining Spatial and Survey Data to Explain Participation in Agricultural Land reservation Programs," Land Economics, University of Wisconsin Press, vol. 79(2), pages 259-276.
    8. Cooper, Joseph C., 1995. "The Application of Nonmarket Valuation Techniques to Agricultural Issues," Staff Reports 333359, United States Department of Agriculture, Economic Research Service.
    9. Maria A. Cunha-e-Sa & Sofia F. Franco & Renato Rosa, 2012. "Urban deforestation and urban development," Nova SBE Working Paper Series wp559, Universidade Nova de Lisboa, Nova School of Business and Economics.
    10. Paul Thorsnes & Gerald P. W. Simons, 1999. "Letting The Market Preserve Land: The Case For A Market‐Driven Transfer Of Development Rights Program," Contemporary Economic Policy, Western Economic Association International, vol. 17(2), pages 256-266, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nareaj:159511. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/nareaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.