Endangered Species Act Incentives to Encourage Conservation By Private Landowne
Endangered Species Act Incentives to Encourage Conservation By Private Landowne
United States Congress House Committee On Merch
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RATIONALE: Markets tend to work efficiently in determining resource allocations because the best use of a scarce resource is matched with the greatest need, as reflected in the price a party is willing to pay for the use of that resource. The right to destroy or degrade important habitat is extraordinarily valuable. Creating a market for these rights would allow their full economic value to be realized, and could help insure that a scarce and valuable resource would be used in society's best in...terests. A market in habitat development rights could be plausible and effective because: 1) such rights are a scarce and extremely valuable resource; and 2) the right, or amount of habitat to be traded, would be sharply defined by the FWS during the initial allocation. Precedent for this type of government action is widespread. The federal goverrmient regularly defines quota levels; from the amount of clean air that can be used up or dirtied, to the amount of various crops and commodities eligible for price supports, to the amount of ocean going fish that can be harvested, to the amount of endangered species habitat that can developed, as is done during the HCP planning process.
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