A POLICY SIMULATION OF THE WETLANDS RESERVE PROGRAM

Farmer participation in wetlands restoration practices is explained using land benefits, land attributes, and owner attributes. The probability of participation is estimated using county-level data, and used to calculate the expected acreage restored. National restored wetlands reserves are simulated by sorting counties on government cost and enrolling acreage into the reserve until the acreage target is reached. Total government cost for a million-acre reserve ranges from $1736 million to $1869 million, depending on the administrative strategy used. Using estimated participation rates in place of hypothetical rates suggests that achieving acreage targets may be more expensive than previously thought. (C) 1995 Academic Press, Inc.