The transition from an open access to a private property rights management regime requires valuation mechanisms that respond to new incentives. The analysis relies on the NPV model, the Arrow Fisher (1972) result and the Black-Scholes option pricing model to describe the necessary elements of resource investment under this transition.

In the administrative territories with small number of population, deficiency of infrastructure and resources for municipalities’ function can be observed. According to this, already in the 90ties, reform of local governments was initiated in Latvia. The cabinet, basing on principles of local governments in European Charter (1985), accepted conception of the reform. The Law 'On Administrative-Territorial Division Project of local governments' was carried in 2006 but rules on administrative division of local governments were issued in 2008.

The development of the land markets for selected European Countries (B, DK, D-W, F, NL) and the effects of agricultural policy reforms on land prices are analysed in "Part I - Land Markets at the Country Level" of this article. The variables describing the agricultural land markets are land prices, prices for rental land and the share of rented land. Over a longer period of about two decades, the prices for agricultural land have been decreasing in real terms in general (exception NL) while rental prices have been more stable.

In Ethiopia deforestation is a major problem and many peasants have switched from fuelwood to dung for cooking and heating purposes, thereby damaging the agricultural productivity of cropland. The Ethiopian government has embarked on a two-pronged policy in an effort to stem deforestation and the degradation of agricultural lands: (i) tree planting or afforestation; (ii) dissemination of more efficient stove technologies. The motivation in here is, therefore, to examine the potential of the strategy of disseminating improved stoves in the rehabilitation of agricultural and forests lands.

The quasi-option value (QOV) literature originated by Arrow and Fisher (1974) and by Henry (1974) is largely concerned with the analysis of two-period models of land development. Our paper extends this literature by analyzing two scenarios in which the decision to develop land is made in a multi-period and stochastic framework. In the first scenario, the development decision is indivisible. In contrast, in the second scenario, the development decision is divisible.

The Conditional Land Transfer Agreement Act, P.A. 425, 1984 (MCLA 124.21-124.29) is a public policy tool designed to promote community economic development and minimize the use of annexation in Michigan. Academic research to evaluate the impact of P.A. 425 on communities executing such contracts had not been conducted. Therefore, the question of whether the Act had accomplished its intended objectives remained unanswered. Data were collected from 26 units of governments that executed P.A. 425 agreements since 1984.