Hotelling's theory, enhancement, and the taking of the Redwood National Park

被引：16

作者：

Berck, P ^{[1
]}

Bentley, WR ^{[1
]}

机构：

[1] YALE UNIV,NEW HAVEN,CT 06520

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 1997年 / 79卷 / 02期

关键词：

enhancement; Hotelling's theory; Redwood National Park; taking; valuation principle;

D O I：

10.2307/1244130

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

The United States has used its power of eminent domain to take a considerable fraction of all remaining old-growth redwood for inclusion in the Redwood National Park. Hotelling's theory implies that the price of redwood remaining in private hands should have increased. In this paper we provide an estimate of how much the taking increased the price of redwood as well as a test of the underlying Hotelling theory.

引用

页码：287 / 298

页数：12

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