Economic incentives: new directions for red-cockaded woodpecker habitat conservation

The U.S. Department of the Interior is authorized to claim property rights to endangered species habitat without paying landowners, with the result that private landowners have little economic incentive to maintain habitat. Proposed is a solution to this problem that gives landowners an opportunity to produce endangered species-specifically, red-cockaded woodpeckers-and make money in the process. The approach, which involves developing statewide habitat conservation plans (HCPs) and marketable certificates (Transferable Endangered Species Certificates) for endangered species within those HCPs, is described in detail.