Abstract
AbstractInnovations in precision agriculture now enable the identification of crop field patches whose retirement offers high environmental benefits and the low opportunity cost of crop yield loss. Precision conservation can lower costs to farmers and payment costs for government agencies. Precision conservation incentive policy should unite elements of land retirement (set‐aside) and working lands policies that pay for environmental services. Key decisions surround how to bundle land fragments in a contract, keep contract design simple, evaluate environmental benefits, monitor compliance, and measure the additionality of those benefits.
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