An Empirical Analysis of the Emergence of Conservation Easement Enabling Statutes in the U.S.

Abstract

This thesis examines the driving forces behind a significant institutional change in conservation law regarding the emergence of state conservation easement enabling statutes. This thesis develops an economic model to explain statute adoption choice as a function of conservation demand, legal, and political factors. This model first examines demand for conservation easements, given pre-existing common law doctrine and federal tax law, as well as economic, demographic, and land characteristics. Next, a competing model is explored, which focuses on the magnitude of interest group effects on the passage of conservation easement statutes. The implications of these models are tested using state-level data on conservation easement laws, income, density, land use, land values, neighboring state laws, taxes, and interest group presence as well as three state case studies. Empirical evidence most strongly supports adoption by neighboring states and interest group influence driving the timing of a given state’s choice to adopt.