N. Hanley, S. Banerjee, G. D. Lennox, P. R. Armsworth
AbstractGlobally, much biodiversity is found on private land. Acting to conserve such biodiversity thus requires the design of policies which influence the decision-making of farmers and foresters. In this paper, we outline the economic characteristics of this problem, before reviewing a number of policy options such as conservation auctions and conservation easements. We then discuss a number of policy design problems, such as need for spatial coordination and the choice between paying for outcomes rather th…
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