RT Journal Article SR Electronic T1 Reconciling Conservation and Development: A Dynamic Hotelling Model of Extractive Reserves JF Land Economics JO Land Econ FD University of Wisconsin Press SP 340 OP 354 DO 10.2307/3654725 VO 80 IS 3 A1 Goeschl, Timo A1 Igliori, Danilo Camargo YR 2004 UL http://le.uwpress.org/content/80/3/340.abstract AB The instrument of extractive reserves has been advertised as a novel approach to reconciling biodiversity conservation and economic development. The empirical literature analyzing extractive reserves, however, delivers an ambiguous assessment of its success. This paper asks whether extractive reserves are capable of delivering long-term development benefits, even in theory. The analysis is carried out by assessing the long-run viability of an extractive reserve under a set of favorable conditions, through a dynamic model of spatial competition. We show that for extractive reserves to be even theoretically viable, a number of restrictive conditions have to be fulfilled. (JEL Q32)