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Institutional solutions to market failure on the landscape scale

Gottfried, Robert, David Wear, and Robert Lee

This paper offers an ecologically-based view of land and land value, building upon the multiproduct nature of ecosystems and upon landscape-ecology. The paper questions the ability of markets to create optimal Landscapes, even when traditional methods of internalizing externalities are applied. and concludes that attempting a complete valuation of ecosystems is quixotic. Achieving sustainable landscapes requires both sufficient ecological knowledge and institutions capable of overcoming landscape-scale market failure. Accordingly, the paper examines factors of public-and private ownership in the United States to assess how well particular institutional conditions might facilitate ecological adaptation there.

Fiscal Year: fy96 ·  Problem Area: pa93-3 ·  Source: coop   <== Explain

Citation: Gottfried, Robert, David Wear, and Robert Lee. 1996. Institutional solutions to market failure on the landscape scale. Ecological Economics 18:133-140.

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