Preserving endangered species on private land benefits the public, but may confer cost on landowners if property is 'taken.' Government compensation to landowners can offset costs, although the Endangered Species Act does not require compensation. The authors survey private economic incentives...

Machine generated contents note: PART I FRAMEWORK FOR ANALYSIS OF CONSERVATION POLICY -- 1 Martin L. Weitzman (1998), 'The Noah's Ark Problem', Econometrica, 66, pp. 1279-98. -- 2 Stephen Polasky and Andrew R. Solow (1999), 'Conserving Biological Diversity with Scarce Resources', in J. Klopatek...