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2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand >
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http://purl.umn.edu/9457
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| Title: | A Bioeconomic Analysis of the Duration of Conservation Contracts |
| Authors: | Crowe, Bronwyn
White, Ben |
| Keywords: | POMDP
biodiversity
contracts
monitoring |
| Issue Date: | 2007 |
| Series/Report no.: | Conference Paper |
| Abstract: | Conservation and restoration of native vegetation is often a gradual process which may
require many years to transform an ecosystem from one vegetative state to a target
ecosystem. This process is stochastic, with some changes potentially irreversible. In
contrast, contracts with landholders to undertake conservation measures on their property
are typically for less than ten years and often make no contingencies for re-contracting at
the end of the contract period. The risk to land holders and conservation agencies of
contracts not being renewed and the consequent potential loss of previous investment
means including covenants in conservation contracts may be attractive to both parties. A
model is developed to empirically examine the optimal dynamic conservation contract
and the possible role of covenants in the costs and benefits of contracts. |
| URI: | http://purl.umn.edu/9457 |
| Institution/Association: | Australian Agricultural and Resource Economics Society - 2007>2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand |
| Total Pages: | 22 |
| Language: | English |
| Collections: | 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand
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| cp07cr13.pdf | 101Kb | PDF | View/Open |
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