Lori Lynch

Maryland has introduced a number of land preservation programs over the past 40 years to permanently preserve resource lands. Although new programs can increase the number of acres being preserved, they might have unintended impact on land preservation due to interaction with existing land preservation programs. The Maryland Rural Legacy program began in 1997 by designating large contiguous blocks of

Maryland has introduced a number of land preservation programs over the past 40 years to permanently preserve resource lands. Although new programs can increase the number of acres being preserved, they might have unintended impact on land preservation due to interaction with existing land preservation programs. The Maryland Rural Legacy program began in 1997 by designating large contiguous blocks of

Page 1. Journal of Agricultural and Resource Economics, 18(2): 251-265 Copyright 1993 Western Agricultural Economics Association A Nonparametric Efficiency Analysis of California Cotton Ginning Cooperatives Michael R. Caputo and Lori Lynch ...

More than 110 state, county, and local governments have implemented agricultural land preservation programs to permanently preserve farmland. Assigning a value to the development is difficult and can be costly. Data was collected on 409 preservation transactions from 3 Maryland counties and supplemented with farm level spatial data via GIS. A hedonic price analysis is conducted to determine the marginal return to different farm characteristics using a spatial econometric model to correct for spatial correlation. Parcel characteristics such as distance to city and town, number of acres, prime soils and current land-use explain eighty percent of the variation in easement values. As expected, characteristics perform least well in explaining easement values in transfer of development right programs. This information can help formulate policy decisions and selection criteria to maximize the preservation of the agricultural economy and/or maximize public preferences. A supply curve is constructed using simulations that determine non-participant parcels' easement values. To preserve the remaining eligible acres in these three counties, $167 million would be needed. This method can support programs choosing to use a point system rather than the more costly and difficult to apply standard appraisal methods.

Zoning regulations are land use control tools used to conserve resource land, limit negative externalities from high density development, and achieve agglomeration benefits from conserving large blocks of land. However, the passage of low-density zoning is often challenged by landowners who claim that through it, they lose their land's equity due to lower land values. We investigate whether low-density zoning

Maryland has introduced a number of land preservation programs over the past 40 years to permanently preserve resource lands. Although new programs can increase the number of acres being preserved, they might have unintended impact on land preservation due to interaction with existing land preservation programs. The Maryland Rural Legacy program began in 1997 by designating large contiguous blocks of

We examine repricing activity surrounding the FASB's 1998 announcement regarding accounting for repriced options. We find that repricing increases during, and decreases after, the 12-day window between the announcement and proposed effective dates, consistent ...