Abstract Environmental policies vary across space, and a growing body of empirical research compares land prices across administrative boundaries to estimate the causal effects of local policies. However, this approach can be confounded if the market anticipates the boundaries may change and land prices respond accordingly. We propose a way to separately identify the effect of local policy and the market’s beliefs that boundaries may change, and we apply this approach to Canadian land prices and wildlife protection zones in Alberta. We find that anticipation matters: market expectations that land will become protected reduces land prices by nearly one-quarter, and empirical analysis that omits anticipation underestimates the cost of regulation by one-third.

Branko Bošković

Linda Nøstbakken

Environmental and Resource Economics

环境与资源经济学（ERE）的主要关注点是将经济学理论和方法应用于需要详细分析以改进管理策略的环境问题和问题。当代环境辩论处于不断变化的状态，新的或相对未探索的话题不断涌现。该杂志为进一步探索与这些主题相关的原因、后果和政策应对措施提供了一个论坛，涵盖了一系列空间和时间尺度，直至全球层面。对期刊的投稿应直接或间接与政策制定和申请流程相关。特别感兴趣的领域包括：评估和制定环境政策工具；成本效益和成本效益分析；部门环境政策影响分析；建模和仿真；体制安排；资源定价和环境商品估价；环境质量指标。编辑们希望鼓励对理论和应用贡献采取多元化的方法。该期刊高度重视发表以经验为基础、以政策为导向的研究，以便进一步进行批判性讨论。环境与资源经济学还将接受采用跨学科方法的论文，这有助于提高对现实世界复杂性的认识，前提是分析保留与经济思维的联系或组成部分。该杂志是经济学家、经济地理学家和其他对环境事务有工作兴趣的学者、专业人士和官员的必读。

Environmental and Resource Economics primarily focuses on applying economic theories and methods to environmental issues that require detailed analysis to improve management strategies. Contemporary environmental debates are in a state of constant flux, with new or relatively unexplored topics continually emerging. This journal provides a platform for further exploration of the causes, consequences, and policy responses related to these themes, covering a range of spatial and temporal scales, up to the global level. Submissions to the journal should be directly or indirectly related to policy formulation and implementation processes. Areas of particular interest include: assessment and development of environmental policy tools; cost-benefit and cost-effectiveness analysis; analysis of sectoral environmental policy impacts; modeling and simulation; institutional arrangements; resource pricing and valuation of environmental goods; and environmental quality indicators. The editors encourage a diverse approach to theoretical and applied contributions. The journal places a high value on publishing empirical, policy-oriented research to foster critical discussion. Environmental and Resource Economics also welcomes papers that adopt interdisciplinary approaches, provided that the analysis retains a connection to or component of economic thinking. This journal is essential reading for economists, economic geographers, and other scholars, professionals, and officials interested in environmental affairs.

《Environmental and Resource Economics》（环境与资源经济学）主要关注将经济学理论和方法应用于需要深入分析以改善管理策略的环境问题。当前的环境辩论处于不断变化之中，新的或相对未探索的话题不断涌现。该期刊为进一步探讨与这些主题相关的原因、后果和政策应对措施提供了一个平台，涵盖了从地方到全球的多种空间和时间尺度。期刊的投稿应直接或间接与政策制定和实施过程相关。特别感兴趣的领域包括：评估和制定环境政策工具；成本效益分析；部门环境政策影响分析；建模与仿真；制度安排；资源定价和环境商品估价；环境质量指标。编辑们希望鼓励多样化的理论和应用贡献。该期刊高度重视以经验为基础、以政策为导向的研究，以促进批判性讨论。《Environmental and Resource Economics》还欢迎采用跨学科方法的论文，这些论文有助于提高对现实世界复杂性的理解，前提是分析保持与经济思维的联系。该杂志是经济学家、经济地理学家以及其他对环境事务感兴趣的学者、专业人士和官员的必读之作。

Category	Quartile
经济学	3
经济学, 经济学	3
经济学, 环境研究	4

Land Markets Anticipate Future Regulatory Boundary Changes

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Journal Info

Category	Quartile
ENVIRONMENTAL STUDIES	2