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Managing Public And Private Land Through Partial Interests

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  • KEITH WIEBE
  • ABEBAYEHU TEGENE
  • BETSEY KUHN

Abstract

As property rights concerns grow along with budget pressures, government agencies charged with balancing resource policy objectives need to consider institutional alternatives to regulation and land purchase. This paper examines how public agencies participate in markets for partial interests in public and private land as a means of influencing resource use and conservation. The paper also reviews the application of real option theory to the valuation of conservation easements and considers potential extensions to other partial interests.

Suggested Citation

  • Keith Wiebe & Abebayehu Tegene & Betsey Kuhn, 1997. "Managing Public And Private Land Through Partial Interests," Contemporary Economic Policy, Western Economic Association International, vol. 15(2), pages 35-43, April.
    • Handle: RePEc:bla:coecpo:v:15:y:1997:i:2:p:35-43
    DOI: 10.1111/j.1465-7287.1997.tb00463.x
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    References listed on IDEAS

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    1. Jeffrey T. LaFrance & Myles J. Watts, 1995. "Public Grazing in the West and "Rangeland Reform '94"," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 447-461.
    2. Capozza Dennis R. & Sick Gordon A., 1994. "The Risk Structure of Land Markets," Journal of Urban Economics, Elsevier, vol. 35(3), pages 297-319, May.
    3. Wiebe, Keith & Tegene, Abebayehu & Kuhn, Betsey, 1996. "Partial Interests in Land: Policy Tools for Resource Use and Conservation," Agricultural Economic Reports 262040, United States Department of Agriculture, Economic Research Service.
    4. Pindyck, Robert S, 1991. "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1110-1148, September.
    5. Slangen, L H G, 1992. "Policies for Nature and Landscape Conservation in Dutch Agriculture: An Evaluation of Objectives, Means, Effects and Programme Costs," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 19(3), pages 331-350.
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    2. Lander, Diane M. & Pinches, George E., 1998. "Challenges to the Practical Implementation of Modeling and Valuing Real Options," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(3, Part 2), pages 537-567.

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