Conservation Easement Allocations to Address Localized Spillovers in Grassland Conversion: A model with empirical evidence using remotely-sensed data

Abstract

Much of America’s grasslands are privately owned and in grass-based beef production. One of the most prominent policies that the United States federal government has had in place to keep these lands under grass has been the property easement contract. This program is facilitated by the U.S. Fish & Wildlife Service acting as administrator for duck stamp and similar funds obtained to protect these lands for hunting and other purposes. Property ownership bundles a large number of rights and obligations. The idea behind grassland easement contracts is to separate the right to use the land for purposes other than grass cover from all other rights and obligations. The property owner who enters a grassland easement commits the land to that purpose in perpetuity in return for a onetime capital payment. The contract is binding on all subsequent land owners. This payment is intended to compensate the owner for foregone options to obtain any future rewards from conversion to other uses.