Oak Woodland Policy — Abstract of Paper


Oak Woodland Economics: A Contingent Valuation of Conversion Alternatives
Richard P. Thompson,¹ Jay E. Noel,¹ and Sarah P. Cross¹


Decisions on how much land should be devoted to oak woodland preservation is ultimately determined by society's valuation of its benefits and relative scarcity. Scarcity value can be measured by people's willingness-to-pay (WTP) to prevent oak woodland conversion to higher value land uses. In this study, we used the contingent valuation (CV) method to estimate WTP for oak woodland preservation in San Luis Obispo county (over 700,000 acres). Estimates ranged between $75 and $83 per voter, providing only about $12 million for land or easement purchases.