Grassland easement acquisition: Conversion hazard rate, additionality, spatial spillover, and heuristics

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2022
Authors
Miao, Ruiqing
Hennessy, David A.
Arora, Gaurav
Loesch, Charles R.
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Economics
Abstract
This study investigates optimal grassland easement acquisition strategies with a focus on the roles of environmental benefit additionality and spatial spillover effect of grassland conversion. Numerical analysis shows that the optimal solution under a targeting strategy that does not consider any spatial spillover effect may secure less environmental benefit additionality than does a heuristic algorithm that considers spatial spillover. Moreover, heuristic algorithms that consider either conversion probability or spatial spillover can generally achieve more than 97% of environmental benefit additionality obtained under the optimal solution of a targeting strategy that considers both additionality and spatial spillover.
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This article is published as Miao, Ruiqing, Hongli Feng, David A. Hennessy, Gaurav Arora, and Charles R. Loesch. 2022. “Grassland Easement Acquisition: Conversion Hazard Rate, Additionality, Spatial Spillover, and Heuristics.” Applied Economic Perspectives and Policy 1–19. https://doi.org/10.1002/aepp.13318.

JEL Classification: Q15, Q24, Q28.

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