@article{Steiner:11026,
      recid = {11026},
      author = {Steiner, Paul},
      title = {COMPENSATING FOR WETLAND LOSS: A CASE STUDY OF MICHIGAN  RIPARIAN ZONES},
      address = {2003},
      number = {1097-2016-88782},
      series = {Graduate Research Master's Degree Plan B Papers},
      pages = {37},
      year = {2003},
      abstract = {State and federal laws regulate the use of wetlands in  Michigan. Under the current regulatory system, the  destruction of a wetland may require the creation or  restoration of a wetland to compensate for the wetland  destroyed. Wetland ecosystems vary in ecological quality  and type. Determining the appropriate amount of  compensatory wetland creation and restoration is difficult.  The number of acres restored may not adequately account for  the variations and quality of the ecoservices lost in the  destroyed wetlands. This paper describes an economic  approach for determining the adequacy of compensatory  wetland creation and restoration. Coefficient estimates and  data from previous studies are used to examine four  hypothetical wetland restoration scenarios. The results  indicate that the appropriate amount of compensatory  creation and restoration (a) increases with the quality of  the destroyed wetland and (b) declines with the quality of  the created or restored wetland. The results of the  economic model are compared with mitigation results  obtained using the standard procedures in Michigan.  The  comparison indicates that standard wetland mitigation  procedures may require too little compensation when the  restoration accomplished is not of the highest quality.   Relative to the economic model of compensatory mitigation,  standard procedures seem to result in too little  restoration when (a) the destroyed wetland is high quality  habitat and (b) the restored wetland is poor quality  habitat. Standard procedures also appear to require too  much restoration relative to the economic model when (a)  the destroyed wetland has poor quality and (b) the restored  wetland is high quality.},
      url = {http://ageconsearch.umn.edu/record/11026},
      doi = {https://doi.org/10.22004/ag.econ.11026},
}