Estimating the supply of conservation goods in Britain: A comparison of the financial efficiency of two policy instruments

Rapid uptake of agreements in Environmentally Sensitive Areas (ESAs) compared with negotiated management agreements on Sites of Special Scientific Interest (SSSI), has lead to renewed interest in obtaining public conservation goods through agreements in the U.K. Economic comparisons between these two instruments are made using a simple supply model. The paper reviews the legal/administrative basis for management agreements, states relevant theory, and compares these two means of securing conservation goods. Conclusions regarding the difference in public expenditure on these mechanisms are established and information on transactions costs presented. The conclusion is that SSSI are more cost-effective than ESAs.