Spatial equilibrium in housing markets implies that distant factors are correlated with prices in specific (focal) neighborhoods through market mechanisms. Using this logic, we develop a novel approach for handling price endogeneity in a reduced-form land use model. We combine a control function...

Funds available to purchase land and easements for conservation purposes are limited. This article provides a targeting strategy for protecting multiple environmental benefits that includes heterogeneity in land costs and probability of land-use conversion, by incorporating spatially explicit...