Executive summary -- Chapter one, introduction: background to the study; objectives; methodological approach; structure of the report -- Chapter two, determinants of land values: economic theories of land value; hedonic pricing studies; the effects of environmental policies on land values; summary findings -- Chapter three, the SSSI and ESA schemes in Scotland; Sites of Special Scientific Interest; the Environmentally Sensitive Areas (ESA) Scheme; proposed changes to the SSSI scheme; summary findings -- Chapter four, findings from the survey of Scottish Land Agents; factors influencing land purchase decisions; designation and the land market; changing attitudes towards designation; the role of Conservation and Recreation Trusts (CARTS) in the land market -- Chapter five, description of the Scottish land market; size of the market; land prices -- Chapter six, a hedonic analysis of Scottish land values; description of the model; results; summary findings -- Chapter seven, positive management agreements: a programming analysis; description of the modelling appraoch; results of the analysis; positive management agreements, risk aversion and land rents; summary findings -- Chapter eight, conclusions -- References -- Appendices

Presents the results of research into the effect of SSSI and ESA designations on land values, and the effect that proposed reforms of the SSSI system may have on land values. Concludes that neither SSSI nor ESA designation have had a significant effect on Scottish land values, although there are some specific cases were designation can and has affected the price received for a piece of land.