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The Cost of Endangered Species Protection: Evidence from Auctions for Natural Resources

Boskovic, Branko; Nøstbakken, Linda
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http://hdl.handle.net/11250/2385158
Utgivelsesdato
2016-04-12
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  • Discussion papers (SAM) [579]
Sammendrag
This paper examines the effect that endangered species regulation has on natural re-

source development. Specifically, we use data from competitive auctions to estimate the

effect that land-use regulation protecting endangered caribou in the Canadian province

of Alberta has on the price producers pay for the right to extract oil. We exploit a re-

gression discontinuity design to evaluate how prices differ along regulation boundaries

that constrain resource development. The auction format and the regulation discon-

tinuity allow use to measure the total cost of the regulation. We find that producers

pay 24% less on average for oil leases that are regulated and that the total net present

value cost of the regulation exceeds $1.15 billion for leases sold between 2003-2012,

all of which is borne by the government. In spite of these costs, the populations of

endangered caribou remain in widespread decline.
Serie
SAM;6/2016

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