Institutional solutions to market failure on the landscape scale

This paper offers an ecologically-based view of land and land value, buildin,0 upon the muftiproducr nature of e&systems and upon landscape ecology. The paper qu&.ions the ability of markets to create optimal landscap&‘even when traditionhl methods of internalizing externalities are appli&d, ;and concludes that-&emptin g a tomplere valuation of’ ecosystem; is’ quixoric: Achieving sustainable landscapes requires both sufficient ‘ecological knowledge and institutions ‘capable .of overcoming landscape-scale market Failure. A’ccordingiy; the paper exarnin&s~Forms of p&bli?iand private ownership in I&. United States to assess how we11 particular institutional conditions might facilitate‘ecologicai adaptation there?“:;-‘*“; ;L : .; L: _ ;.:I: _ ,.:.:;-.:. I . y:.: _’ ,‘,. . . . . . ::. ..,‘. .“. .i 1. Landscape value and *k ‘$$ke; .. . . .>‘. ::.: .” . : . . _ .