The management of natural resources located on private lands often
involves a perceived conflict between the mix of private and public
benefits they produce. This book is focused on one such issue: the
design of policy relating to the production of wetland outputs in
order to maximize private and social welfare. The authors first
address the welfare impacts of alternative wetland management
strategies on the wider community. They then concentrate on
privately owned wetlands in Australia and find that they generate
substantial public benefits. Furthermore, they are able to identify
cost-effective avenues to increase these benefits. The authors then
turn their attention to the integration of policy costs in
decision-making and the implications for wetland policy. They
highlight the fact that policy development and implementation is a
costly process and in some cases can even outweigh the net benefits
available from increasing wetland production. This important new
book develops theory and policy for the provision of public goods
from private land, and applies this to case studies of wetlands in
Australia. It will be of great interest and practical value to
environmental economists and policy makers working on the theory
and application of economics to policy development. It will also
appeal to environmental NGOs concerned about the effective
production of environmental goods.
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