Most studies of water quality trading (WQT) analyze the cost effectiveness of reducing nutrient pollution in isolation from other policies. However, the policy landscape to reduce nutrient pollution from agriculture is dominated by existing cost-share (CS) programs, which are likely to persist...

Payment for ecosystem services (PES) program contracts include penalties for nonperformance to ensure that they receive the environmental benefits they have been paying for. The standard penalty structure in PES programs requires participants to pay back all program payments received if the...

Funds available to purchase land and easements for conservation purposes are limited. This article provides a targeting strategy for protecting multiple environmental benefits that includes heterogeneity in land costs and probability of land-use conversion, by incorporating spatially explicit...

Spatial equilibrium in housing markets implies that distant factors are correlated with prices in specific (focal) neighborhoods through market mechanisms. Using this logic, we develop a novel approach for handling price endogeneity in a reduced-form land use model. We combine a control function...