Accounting for Externalities in Benefit–Cost Measures: An Analysis of a Land Buyout and Associated Projects to Save the Everglades Reportar como inadecuado




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As part of efforts to restore the Everglades, in 2008, Governor Crist of Florida proposed theacquisition of 187,000 acres of land from the U.S. Sugar Corporation (U.S. Sugar) for thispurpose, but the final purchase in August 2010 totaled only 26,800 acres. This article presentsthe history behind the alternatives, including the buyout of U.S. Sugar land, to improveFlorida’s water quality and the health of the Everglades. To determine the benefits and costsof several of the U.S. Sugar land buyout proposals, a spatial price equilibrium model of theU.S. sugar market is developed. Within this framework, all the benefit–cost ratios calculatedshow that the benefits are less than the costs. Our analysis uses the concept of an EnvironmentalEquivalent, which is the dollar amount of environmental benefits needed from theEverglades restoration or water quality projects to generate benefits that are as great as orgreater than its costs. Also, we consider, within the context of ex ante vs. ex post benefit–costanalysis, the developments to clean up the Everglades since the U.S. Sugar land purchase.

Keywords: benefits ; buyouts ; costs ; Everglades ; U.S. Sugar Corporation

Editor(s): Bosch, Darrell J.

Marchant, Mary A.

Wetzstein, Michael

Subject(s): Environmental Economics and Policy

Issue Date: Aug 01 2013

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/155415 Published in: Journal of Agricultural and Applied Economics, Volume 45 Page range: 421-433

Total Pages: 13

JEL Codes: Q1; Q15; Q51

Record appears in: Southern Agricultural Economics Association (SAEA) > Journal of Agricultural and Applied Economics





Autor: Schmitz, Andrew ; Kennedy, P. Lynn ; Hill-Gabriel, Julie

Fuente: http://ageconsearch.umn.edu/record/155415?ln=en







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