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The Economic Impact of Critical-Habitat Designation: Evidence from Vacant-Land Transactions

Author

Listed:
  • Maximilian Auffhammer
  • Maya Duru
  • Edward Rubin
  • David L. Sunding

Abstract

The Endangered Species Act requires the federal government to designate critical habitat for species listed as threatened or endangered. This provision has proven to be one of its most controversial, as it entails special management and potentially greater regulation. We measure the economic impact of critical-habitat designation by estimating its effect on the market value of vacant land. Using data from 13,000+ transactions that occurred within or near critical habitat for two species in California, we show that it resulted in a large and statistically significant decrease in land value, with the largest decreases occurring within urban growth boundaries.

Suggested Citation

  • Maximilian Auffhammer & Maya Duru & Edward Rubin & David L. Sunding, 2020. "The Economic Impact of Critical-Habitat Designation: Evidence from Vacant-Land Transactions," Land Economics, University of Wisconsin Press, vol. 96(2), pages 188-206.
    • Handle: RePEc:uwp:landec:v:96:y:2020:i:2:p:188-206
    Note: DOI: 10.3368/le.96.2.188
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    Cited by:

    1. Treakle, Tyler & Abbott, Joshua K., 2024. "Assessing the Heterogenous Labor Market Impacts of U.S. Endangered Species Act Regulations," 2024 Annual Meeting, July 28-30, New Orleans, LA 343607, Agricultural and Applied Economics Association.
    2. Liang, Yuanning & Rudik, Ivan & Zou, Eric Yongchen, 2021. "Economic Production and Biodiversity in the United States," SocArXiv qy76a, Center for Open Science.

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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