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But one of the most powerful is the comparative economic returns to ˜converted™ land relative to the economic returns to ˜natural™ land.In short, the issue is conservation versus conversion, and this is a con¬‚ict that is invariably resolved in the favour of conversion.This innovative book applies GIS techniques to spatial cost-bene¬t analysis of a complex and topical land use change problem “ the con- version of agricultural land to multipurpose woodland “ looking in detail at issues such as opportunity costs, timber yield, recreation, carbon storage, etc., and em- bracing cross-cutting themes such as the evaluation of environmental preferences and the spatial transfer of bene¬t functions. bateman is Professor of Environmental Economics at the School of Environmental Sciences, University of East Anglia, and Senior Research Fellow at both the Centre for Social and Economic Research on the Global Environment (CSERGE) and the Centre for the Economic and Behavioural Analysis of Risk and Decision (CEBARD), University of East Anglia. present situation): 6% discount rate 3b The social net bene¬t of retaining sheep farming as opposed to conversion to conifer woodland (de¬ned as timber, carbon storage and recreation, the latter measured using contingent valuation): 6% discount rate 3c The farm-gate net bene¬t of retaining milk farming as opposed to conversion to conifer woodland (de¬ned as timber plus grants only, i.e.

If there is an encouraging trend in the environmental world it is that, gradually, these capture mechanisms are expanding.At the end of the day, and like it or not, the ¬nancial balance sheet drives land conversion.It pays to convert land because the ¬nancial returns from conversion exceed those from conservation.Her research background includes GIS, bene¬t transfer, outdoor recreation and environmental equity. B R A I NA R D ©¤§ µ®©© ° Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo Cambridge University Press The Edinburgh Building, Cambridge  µ, United Kingdom Published in the United States of America by Cambridge University Press, New York on this title: © Ian J. Various yield classes and subsidy types 150 x List of ¬gures xi 5.7 Social value for Sitka spruce (annualised equivalent of a perpetual series of optimal rotations).A P P L I E D E N V I RO N M E N TA L ECONOMICS A GIS Approach to Cost-Bene¬t Analysis I A N J . Various yield classes and discount rates 156 5.8 Social value for beech (annualised equivalent of a perpetual series of optimal rotations).

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