Abstract

MENDIETA LOPEZ, Juan Carlos. Land valuation and decision making on the efficient application of public policy. Civilizar [online]. 2008, vol.8, n.14, pp.85-104. ISSN 1657-8953.

The purpose of this article is to explore some considerations based on the criterion of pure economic efficiency necessary to design efficient public policy for the allocation of public-interest environmental assets. A version of the Fisher and Krutilla's model is proposed to study the problem of natural resources' optimal allocation under conflicts of use between conservation and development. The model is a tool to determine the best use of an urban natural environment in Bogotá, Colombia. Under the scenarios of conservation-passive use, conservation-active use and partial development, the major and the best use for the urban natural environment is the option of conservation-passive use. This option reports a cost benefit ratio of 3.44, estimated with the Contingent Valuation method of non-market values under this option. This information is useful for policy makers to choose the major and the best use for the urban natural environment.

Keywords : Non-market Benefits; Optimal Allocation; Conservation versus Development; Cost Benefit Analysis and the Environment.

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