Abstract

http://ssrn.com/abstract=953200
 
 

References (25)



 
 

Citations (2)



 


 



Is the Endangered Species Act Endangering Species?


John A. List


University of Chicago - Department of Economics; National Bureau of Economic Research (NBER); Institute for the Study of Labor (IZA)

Michael Margolis


Escuela de Econonía, Universidad de Guanajuato

Daniel E. Osgood


University of Arizona - Department of Agricultural and Resource Economics

December 2006

NBER Working Paper No. w12777

Abstract:     
We develop theory and present a suite of theoretically consistent empirical measures to explore the extent to which market intervention inadvertently alters resource allocation in a sequentialmove principal/agent game. We showcase our approach empirically by exploring the extent to which the U.S. Endangered Species Act has altered land development patterns. We report evidence indicating significant acceleration of development directly after each of several events deemed likely to raise fears among owners of habitat land. Our preferred estimate suggests an overall acceleration of land development by roughly one year. We also find from complementary hedonic regression models that habitat parcels declined in value when the habitat map was published, which is consistent with our estimates of the degree of preemption. These results have clear implications for policymakers, who continue to discuss alternative regulatory frameworks for species preservation. More generally, our modeling strategies can be widely applied -- from any particular economic environment that has a sequential-move nature to the narrower case of the political economy of regulation.

Number of Pages in PDF File: 46

working papers series





Download This Paper

Date posted: December 23, 2006  

Suggested Citation

List, John A. and Margolis, Michael and Osgood, Daniel E., Is the Endangered Species Act Endangering Species? (December 2006). NBER Working Paper No. w12777. Available at SSRN: http://ssrn.com/abstract=953200

Contact Information

John A. List (Contact Author)
University of Chicago - Department of Economics ( email )
1126 East 59th Street
Chicago, IL 60637
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Michael Margolis
Escuela de Econonía, Universidad de Guanajuato ( email )
Guanajuato
Mexico
HOME PAGE: http://economia.ugto.org/michael/
Daniel E. Osgood
University of Arizona - Department of Agricultural and Resource Economics ( email )
1110 E. North Campus Drive
Tucson, AZ 85721-0023
United States
Feedback to SSRN


Paper statistics
Abstract Views: 899
Downloads: 35
References:  25
Citations:  2

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo6 in 0.390 seconds