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- W4225547470 abstract "Nonmarket natural capital provides crucial inputs across the economy. We use land rental market data to calculate the welfare impacts of a change in an unpriced natural capital while accounting for spatial spillovers. We apply the welfare analysis to examine the cost of white-nose syndrome (WNS) in bats, which provide pest control services to agricultural producers. WNS, a disease that decimates bat populations, arrived in the United States in the mid-2000s. Leveraging the exogenous change in bat populations, we find that the loss of bats in a county causes land rental rates to fall by $2.84 per acre plus $1.50 per acre per neighboring county with WNS. Agricultural land falls by 1,102 acres plus 582 acres per neighboring county with WNS. As of 2017, agricultural losses from WNS were between $426 and $495 million per year. These estimates of ecosystem service values can inform public management of society’s natural capital." @default.
- W4225547470 created "2022-05-05" @default.
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- W4225547470 date "2022-11-01" @default.
- W4225547470 modified "2023-09-25" @default.
- W4225547470 title "Ecosystem Services and Land Rental Markets: Producer Costs of Bat Population Crashes" @default.
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- W4225547470 doi "https://doi.org/10.1086/720303" @default.
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