Conservation easements have emerged as an important tool for land trusts and government agencies aiming to conserve private land in the United States. Despite the increase in public investment in conservation easement acquisitions, little is known about their conservation outcomes, particularly...

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...