This article provides a practical, applied analysis of optimal targeting in agricultural land preservation, comparing the performance of four alternative targeting strategies. Nonmarket benefit data and hedonic cost estimates are used for parcels in Sussex County, Delaware. The results show that...

Economists advocate that the billions of public dollars spent on conservation should be allocated to achieve the largest possible social benefit. This is what we term “cost-effective conservation”-- a process that incorporates both benefits and costs that are measured with money. This...