In contractual relationships involving payments for environmental services, conservation buyers know less than landowners know about the costs of contractual compliance. Landowners in such circumstances use their private information as a source of market power to extract informational rents from...

This article provides a practical, applied analysis of optimal targeting in agricultural land preservation, comparing the performance of four alternative targeting strategies. Nonmarket benefit data and hedonic cost estimates are used for parcels in Sussex County, Delaware. The results show that...

Protecting endangered species that offer poachers from low-income countries high economic benefits remains a policy challenge. A broadly applicable economic model of poaching shows why CITES international bans have not always been successful, especially in situations where black markets exist...