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Valuing Farmland Protection: Do Empirical Results and Policy Guidance Depend on the Econometric Fine Print?

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  • Robert J. Johnston
  • John C. Bergstrom

Abstract

Economists have generated an abundance of willingness to pay estimates to help inform U.S. farmland protection policies. Stated preference approaches are often used for such estimations, with an increasing reliance placed on discrete choice models such as mixed logit, in which results can be sensitive to minor specification changes. This paper evaluates how and to what extent this sensitivity is policy relevant. Drawing from a case study of agricultural conservation easements in Georgia, we characterize the sensitivity of choice experiment welfare estimates to common variations in mixed logit specification. Results suggest that practitioners should provide greater attention to the potential implications of often unnoticed modeling choices in discrete choice welfare estimation.

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  • Robert J. Johnston & John C. Bergstrom, 2011. "Valuing Farmland Protection: Do Empirical Results and Policy Guidance Depend on the Econometric Fine Print?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(4), pages 639-660.
    • Handle: RePEc:oup:apecpp:v:33:y:2011:i:4:p:639-660.
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    File URL: http://hdl.handle.net/10.1093/aepp/ppr020
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    Cited by:

    1. Duke, Joshua M. & Dundas, Steven J. & Johnston, Robert J. & Messer, Kent D., 2014. "Prioritizing payment for environmental services: Using nonmarket benefits and costs for optimal selection," Ecological Economics, Elsevier, vol. 105(C), pages 319-329.
    2. Robert J. Johnston & Kevin J. Boyle & Wiktor (Vic) Adamowicz & Jeff Bennett & Roy Brouwer & Trudy Ann Cameron & W. Michael Hanemann & Nick Hanley & Mandy Ryan & Riccardo Scarpa & Roger Tourangeau & Ch, 2017. "Contemporary Guidance for Stated Preference Studies," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(2), pages 319-405.
    3. Londoño, Luz M. & Johnston, Robert J., 2012. "Enhancing the reliability of benefit transfer over heterogeneous sites: A meta-analysis of international coral reef values," Ecological Economics, Elsevier, vol. 78(C), pages 80-89.
    4. Wang, Haoluan & Swallow, Brent M., 2017. "Linking Agricultural Land Conservation and Provision of Ecosystem Services: A Choice Experiment Approach," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258537, Agricultural and Applied Economics Association.
    5. Baoqi Liu & Lishan Xu & Yulin Long & Yuehua Wei & Changlin Ao, 2024. "Public Willingness to Pay for Farmland Eco-Compensation and Allocation to Farmers: An Empirical Study from Northeast China," Agriculture, MDPI, vol. 14(7), pages 1-22, July.
    6. Yuan, Yuan & Boyle, Kevin J. & You, Wen & Fuller, Harry M., 2012. "A Nationwide Comparison of Farmland Conservation Easement Valuation," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124836, Agricultural and Applied Economics Association.
    7. Duke, Joshua M. & Borchers, Allison M. & Johnston, Robert J. & Absetz, Sarah, 2012. "Sustainable agricultural management contracts: Using choice experiments to estimate the benefits of land preservation and conservation practices," Ecological Economics, Elsevier, vol. 74(C), pages 95-103.

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