Rapid growth of demand for agricultural land is putting pressure on property rights systems, particularly in Sub-Saharan Africa, where customary tenure systems have provided secure land access.

Large-scale agricultural land acquisitions have been covered substantially in recent literature. Despite the wealth of theoretical and empirical studies on this subject, there is no study that has reviewed existing literature in light of concerns over sustainable and equitable management.

Poorly developed countries with weak institutions often face severe commitment problems. International investors are reluctant to invest in these countries because their property rights are insufficiently protected.

We evaluate how land use change and the value ecosystem services affect the decision to invest in public land acquisitions. Our application is for the state of Minnesota, and we consider the acquisitions by Department of Natural Resources over the last two decades.