This article develops a theoretical model to analyze the spatial targeting of incentives for the restoration of forested landscapes when wildlife habitat can be enhanced by reducing fragmentation. The key theoretical result is that the marginal net benefits of increasing forest can be convex, in...

The timing of climate adaptation decisions can have substantial consequences for the assessment of climate damages. Since weather variability can create risks that differ across adaptation choices, such variability has the potential to alter the speed of climate adaptation and the adjustment...