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- Title
Understanding the Performance of Biodiversity Offset Markets: Evidence from an Integrated Ecological-Economic Model.
- Authors
Simpson, Katherine Hannah; Vries, Frans de; Dallimer, Martin; Armsworth, Paul R.; Hanley, Nick
- Abstract
Biodiversity offset markets can incentivize private landowners to take actions that benefit biodiversity. A spatially explicit integrated ecological-economic model is developed and employed for a U.K. region where offset buyers (house developers) and sellers (farmers) interact by trading offset credits. We simulate how changes in the ecological metric and geographic scale affects the performance of the offset market. Results show that the choice of the metric has a significant effect on market liquidity and the spatial distribution of gains and losses in the "target" species. The results also consistently reveal relatively higher potential welfare gains for developers than for farmers. (JEL Q57, Q58)
- Subjects
UNITED Kingdom; BIODIVERSITY; HOUSING developers; MARKETPLACES
- Publication
Land Economics, 2021, Vol 97, Issue 4, p1
- ISSN
0023-7639
- Publication type
Article
- DOI
10.3368/le.97.4.030420-0032r