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Voluntary Development Restrictions and the Cost of Habitat Conservation

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  • Sabrina J. Lovell
  • David L. Sunding

Abstract

The management of economic activity on private land plays an important role in the effort to maintain and improve environmental quality in the United States. The paper develops a conceptual framework and an econometric model of the value of undeveloped land to show how preexisting development restrictions affect the cost of protecting habitat. The model is applied to the case of preserving vernal pools in California's Sacramento County by prohibiting development on agricultural land. Ignoring the existence of California's program of differential property tax assessment of farmland is shown to result in a large overestimate of the cost of habitat protection.

Suggested Citation

  • Sabrina J. Lovell & David L. Sunding, 2001. "Voluntary Development Restrictions and the Cost of Habitat Conservation," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(2), pages 191-206.
    • Handle: RePEc:bla:reesec:v:29:y:2001:i:2:p:191-206
    DOI: 10.1111/1080-8620.00007
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    Cited by:

    1. Lehrer, David & Becker, Nir & Bar, Pua, 2019. "The drivers behind nature conservation cost," Land Use Policy, Elsevier, vol. 89(C).
    2. Ferraro, Paul J., 2002. "The local costs of establishing protected areas in low-income nations: Ranomafana National Park, Madagascar," Ecological Economics, Elsevier, vol. 43(2-3), pages 261-275, December.

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