Sequential Land Acquisition for Nature Reserves under Acquisition and Population Uncertainty.
Date
2001-01
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Food and Resource Economics
Abstract
Nature reserve planning models to maximize species protection are typically
formulated for a single period using certain data. In practice, however, parcels must
be acquired over time. The status of a parcel may change due to conversion to
alternate land use. Populations of species to be protected may change, as well. A twostage
stochastic program that maximizes expected species protection with annual
budget constraints is proposed where parcels available for set aside have associated
probabilities of being available for acquisition and species coverage. Runs on
hypothetical data show that solutions differ from the single period model and depend
strongly on the probability of acquisition in future periods.
Description
Keywords
Stochastic program