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Journal Cover   Land Economics
  [SJR: 1.669]   [H-I: 55]   [7 followers]  Follow
   Full-text available via subscription Subscription journal
   ISSN (Print) 0023-7639 - ISSN (Online) 1543-8325
   Published by University of Wisconsin Press Homepage  [10 journals]
  • Downside versus Symmetric Measures of Uncertainty in Natural Resource
           Portfolio Design to Manage Climate Change Uncertainty
    • Abstract: <p>By Payal Shah, Amy W. Ando</p> Uncertainty poses problems for conservation planning and natural resource management. For example, climate change–driven uncertainty in future conservation outcomes makes it difficult for conservation planners to undertake systematic conservation planning; protecting places that currently have high conservation value does not ensure that the future conservation value of those reserves will be high. Modern portfolio theory (MPT) has been used in several branches of economic research on natural resources management under uncertainty, including biodiversity conservation, salmon management, forest restoration, and invasive species control (Figge 2004; Koellner and Schmitz 2006; Crowe and Parker 2008; Kennedy ... <a href="">Read More</a>
      Keywords: Portfolio management
      PubDate: 2015-10-16T00:00:00-05:00
  • Do Landlord-Tenant Relationships Influence Rental Contracts for Farmland
           or the Cash Rental Rate?
    • Abstract: <p>By James Bryan, B. James Deaton, Alfons Weersink</p> Close to 40% of the farmland in the United States and Canada is rented (Kirwan 2009; Statistics Canada 2006). Nonfarmers own the majority of this farmland in the United States (Kirwan 2009), and our results confirm this for Ontario, Canada. Nonfarmer ownership of farmland is a historic issue that both interestingly and significantly predates the American Agricultural Economics Society. As early as 1897, the American Economics Association hosted a session titled “Is there a distinct agricultural question?” One of the key issues addressed at that session was the rapidly increasing prevalence of renting and the increased ownership of farmland by wealthy landowners (Barkley 2010). The issue of renting and ... <a href="">Read More</a>
      Keywords: Landlord and tenant
      PubDate: 2015-10-16T00:00:00-05:00
  • Housing Market Bust and Farmland Values: Identifying the Changing
           Influence of Proximity to Urban Centers
    • Abstract: <p>By Wendong Zhang, Cynthia J. Nickerson</p> The recent residential housing market bust and subsequent economic recession led to a dramatic decline in urban land and housing values across the United States. According to Standard & Poor’s Case-Shiller repeat sales price index, residential property values in major metropolitan areas declined by about 40% between 2007 and the end of 2008. Although farmland near urban areas derives some of its value from factors affecting urban land values, a corresponding dip was not evident in farmland prices. Survey data reveal that in many states, farm real estate values modestly increased rather than decreased over 2007–2009 (Nickerson et al. 2012). These trends raise a question about the relationship between urban and ... <a href="">Read More</a>
      Keywords: Urbanization
      PubDate: 2015-10-16T00:00:00-05:00
  • Sample Selection, Individual Heterogeneity, and Regional Heterogeneity in
           Valuing Farmland Conservation Easements
    • Abstract: <p>By Yuan Yuan, Kevin J. Boyle, Wen You</p> Agricultural activities provide benefits that are not captured by farmers through market prices. These range from cultural benefits such as maintaining the agricultural character of a region to environmental benefits such as providing wildlife habitat, as well as the amenity of open space, particularly in the face of urban growth (Hall, McVittie, and Moran 2004; McConnell and Walls 2005). However, between 1989 and the early 2000s, about 14 million acres of prime farmland in the United States was lost, mostly to development (USDA 2009). While in recent years there has been a slump in residential and commercial real estate development, the downturn in the real estate market cycle is only temporary (Lee 2008). In ... <a href="">Read More</a>
      Keywords: Farms
      PubDate: 2015-10-16T00:00:00-05:00
  • Divided Rights, Expanded Conflict: Split Estate Impacts on Surface Owner
           Perceptions of Shale Gas Drilling
    • Abstract: <p>By Alan R. Collins, Kofi Nkansah</p> The meaning of property varies considerably depending upon the field of study or property rights theory employed. Hamilton and Bankes (2010) categorized property definitions into two broad approaches: conceptualism and instrumentalism. The conceptualism approach views property as a “thing,” usually tangible, that can be owned and consists of a bundle of rights. The instrumentalism approach views property as an “institution” or a “system of rules” that protects the entitlement of individuals who own or use property (Hamilton and Bankes 2010). Economists typically view property from an instrumentalism approach with a focus on institutionally protected economic rights (Hamilton and Bankes 2010; Barzel 1997). Barzel ... <a href="">Read More</a>
      Keywords: Gas well drilling
      PubDate: 2015-10-16T00:00:00-05:00
  • Measuring Transaction Costs for Pastoralists in Multiple Land Use
           Situations: Reindeer Husbandry in Northern Sweden
    • Abstract: <p>By Göran Bostedt, Camilla Widmark, Mats Andersson, Camilla Sandström</p> The use of natural resources often causes conflicts, and designing policies to solve conflicts is not an easy task especially in cases of interdependence. Different stakeholders may frame the problem differently as they have divergent interests in the resource, and attempts to design solutions may cause new problems to arise (Batie 2008). Interdependence further increases the complexity of such problems, and they are rarely completely solved, rather made better or worse (Ritter and Webber 1973; Batie 2008; McCann 2013). Transaction costs are important to consider in policy design and evaluation, as these costs typically may affect policy alternatives and the design of institutional arrangements (McCann 2004; ... <a href="">Read More</a>
      Keywords: Reindeer farming
      PubDate: 2015-10-16T00:00:00-05:00
  • The Costs of Error in Setting Reference Rates for Reduced Deforestation
    • Abstract: <p>By Patrick Doupe</p> A policy reduces emissions from deforestation and forest degradation (REDD +) when emissions with the policy are lower than emissions in the absence of policy. To design policy we therefore need an idea of emissions in the absence of policy. This idea is operationalized in a reference rate, a threshold such that a country receives compensation if its emissions fall below the threshold. Current proposals for a policy mechanism to reduce emissions from deforestation and forest degradation only crudely answer this question regarding emissions in the absence of policy. Proposals often answer this question through the use of historical average emissions from deforestation. In this paper, I show how using historical ... <a href="">Read More</a>
      Keywords: Environment policy
      PubDate: 2015-10-16T00:00:00-05:00
  • Multiscale Spatial Pattern in Nonuse Willingness to Pay: Applications to
           Threatened and Endangered Marine Species
    • Abstract: <p>By Robert J. Johnston, Daniel Jarvis, Kristy Wallmo, Daniel K. Lew</p> An expanding literature addresses spatial heterogeneity in stated preference willingness to pay (WTP).1 Most research in this area applies some variant of the distance decay paradigm, in which WTP is assumed to diminish as a continuous function of distance from an affected resource (Bateman et al. 2006). Yet while distance decay has been verified in empirical settings involving both use and nonuse values, the theoretical justification for this effect is limited to use values (Bateman et al. 2006). There is no clear theoretical justification for distance decay in nonuse values. This may help explain why distance decay analyses of nonuse and nonuser values have found mixed results (Bateman et al. 2000, 2006; Hanley ... <a href="">Read More</a>
      Keywords: Willingness to pay
      PubDate: 2015-10-16T00:00:00-05:00
  • Spatial Cost of Living Indices and the Distribution of Public Goods
    • Abstract: <p>By Timothy L. Hamilton</p> Valuation of nonmarket amenities has been extensively researched due to the role of public goods in welfare analysis and public policy. However, emphasis is generally placed on efficient levels, while considerations of the distribution of public goods across the population often receive less attention. Parallel to this issue is the fact that conventional economic analyses of distribution use only income as the measured variable. While income can be adjusted to reflect market prices, such a measure still overlooks other elements of welfare, namely, public goods. This elicits the need for a broader measure of welfare in distributional analyses. To overcome these two concerns, this research seeks to construct ... <a href="">Read More</a>
      Keywords: Cost and standard of living
      PubDate: 2015-10-16T00:00:00-05:00
  • List of Reviewers
    • Abstract: In addition to our editorial board, we wish to acknowledge review assistance by the following individuals: Joshua K. Abbott Jennifer Alix-Garcia Steven J. Archambault Frank Asche Kenneth A. Baerenklau Robert Beach Marc F. Bellemare Robert Berrens Glenn C. Blomquist Michael Boehlje Craig A. Bond Willem J. W. Botzen William S. Breffle B. Wade Brorsen Roger Claassen Paula Cordero Katherine L. Dickinson Jerome Dumortier Richard W. England Allen M. Featherstone Eli P. Fenichel Susana Ferreira Timothy Fitzgerald Allen C. Goodman Barry K. Goodwin Munisamy Gopinath Martin D. ... <a href="">Read More</a>
      PubDate: 2015-10-16T00:00:00-05:00
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