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Spatial Multiobjective Optimization of Agricultural Conservation Practices using a SWAT Model and an Evolutionary Algorithm
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Published on: December 9, 2012

Cost-effective conservation planning: lessons from economics.

Joshua M Duke1, Steven J Dundas, Kent D Messer

  • 1University of Delaware, Department of Applied Economics & Statistics, 213 Townsend Hall, 531 South College Avenue, Newark, DE 19716, United States. duke@udel.edu

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|May 11, 2013
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Summary

Cost-effective conservation, integrating monetized benefits and costs, maximizes social returns on public funds. This paper offers practical lessons for planners to overcome resistance and improve implementation of conservation economics.

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Area of Science:

  • Environmental Economics
  • Conservation Planning
  • Public Policy

Background:

  • Public conservation spending lacks efficient allocation strategies.
  • Cost-effective conservation, balancing monetized benefits and costs, is poorly understood and implemented.
  • Planners often resist economic principles in conservation.

Purpose of the Study:

  • To improve communication between economists and planners regarding cost-effective conservation.
  • To overcome resistance to implementing conservation economics.
  • To distill practical lessons from major US conservation programs.

Main Methods:

  • Analysis of large-scale, publicly financed conservation programs in the United States.
  • Distillation of 15 practical lessons for conservation planning.
  • Identification of interrelationships between benefits and complications like capitalization and intertemporal planning.

Main Results:

  • Identified negative implications of political constraints, non-monetized benefits, ignoring development risk, and incomplete cost measures.
  • Highlighted complexities in benefit-cost analysis, including capitalization and intertemporal considerations.
  • Revealed challenges in incentive problems like adverse selection, additionality, and slippage.

Conclusions:

  • Effective conservation requires integrating economic principles and overcoming practical implementation barriers.
  • Improved communication and understanding of cost-effective conservation are crucial for maximizing social benefits.
  • Future research should address incentive problems at the conservation frontier.