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Impacts of an incentive based land u...

Towe, Charles Anthony.

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Impacts of an incentive based land use policy: An evaluation of preservation easements.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Impacts of an incentive based land use policy: An evaluation of preservation easements./
Author:	Towe, Charles Anthony.
Description:	160 p.
Notes:	Adviser: Nancy Bockstael.
Contained By:	Dissertation Abstracts International69-02A.
Subject:	Economics, Agricultural. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3297422
ISBN:	9780549454571

Impacts of an incentive based land use policy: An evaluation of preservation easements.
Towe, Charles Anthony.

Impacts of an incentive based land use policy: An evaluation of preservation easements. - 160 p.

Adviser: Nancy Bockstael.

Thesis (Ph.D.)--University of Maryland, College Park, 2007.

This dissertation examines the conversion decision of a landowner from an undeveloped or agricultural use to a subdivision in the presence of an active housing market and an active land preservation program. It utilizes a unique panel dataset and incorporates a real options framework to evaluate the impacts of housing market volatility on conversion timing. At the same time, this work evaluates the impact of a preservation program on the timing of conversion. Typical program evaluation of this type focuses on quantity or quality of acres enrolled. This work focuses on the timing of the conversion decision and involves a potential program benefit that is not related to enrollment in the preservation program itself. The benefit of a delayed conversion decision is a desirable outcome for the county even if parcels ultimately convert to a developed state. Hazard models are estimated which account for multiple exit states, i.e. competing risks, of conversion or preservation and correlation among these competing risks is modeled. Results of these models suggest that price volatility, as well as eligibility for the preservation program, significantly delays conversion decisions. The median estimated delay induced by easement eligibility ranges from 7 years to over 20 years depending on parcel size.

ISBN: 9780549454571Subjects--Topical Terms:

626648
Economics, Agricultural.

Impacts of an incentive based land use policy: An evaluation of preservation easements.
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020 $a 9780549454571
035 $a (UMI)AAI3297422
035 $a AAI3297422
040 $a UMI $c UMI
100 1 $a Towe, Charles Anthony. $3 1277321
245 1 0 $a Impacts of an incentive based land use policy: An evaluation of preservation easements.
300 $a 160 p.
500 $a Adviser: Nancy Bockstael.
500 $a Source: Dissertation Abstracts International, Volume: 69-02, Section: A, page: 0695.
502 $a Thesis (Ph.D.)--University of Maryland, College Park, 2007.
520 $a This dissertation examines the conversion decision of a landowner from an undeveloped or agricultural use to a subdivision in the presence of an active housing market and an active land preservation program. It utilizes a unique panel dataset and incorporates a real options framework to evaluate the impacts of housing market volatility on conversion timing. At the same time, this work evaluates the impact of a preservation program on the timing of conversion. Typical program evaluation of this type focuses on quantity or quality of acres enrolled. This work focuses on the timing of the conversion decision and involves a potential program benefit that is not related to enrollment in the preservation program itself. The benefit of a delayed conversion decision is a desirable outcome for the county even if parcels ultimately convert to a developed state. Hazard models are estimated which account for multiple exit states, i.e. competing risks, of conversion or preservation and correlation among these competing risks is modeled. Results of these models suggest that price volatility, as well as eligibility for the preservation program, significantly delays conversion decisions. The median estimated delay induced by easement eligibility ranges from 7 years to over 20 years depending on parcel size.
520 $a However, enrollment in a preservation easement may impact neighboring land use decisions in the presence of spillover effects. That is, an enrolled parcel may attract development in the sense that neighboring parcels become more likely to convert. A propensity score matching procedure is utilized to quantify the spillover effect of preservation activity on future surrounding land conversion decisions. The propensity score estimation approach allows a semi-parametric estimate which controls the non-random selection or endogeneity of preservation activity. Results of this model suggest that parcels neighboring recent preservation activity are almost three times more likely to convert than similar parcels without a newly preserved neighbor.
590 $a School code: 0117.
650 4 $a Economics, Agricultural. $3 626648
690 $a 0503
710 2 $a University of Maryland, College Park. $b Agricultural and Resource Economics. $3 1277322
773 0 $t Dissertation Abstracts International $g 69-02A.
790 $a 0117
790 1 0 $a Bockstael, Nancy, $e advisor
791 $a Ph.D.
792 $a 2007
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3297422