Adoption of improved silvopastoral practices in degraded pasture areas is thought to provide valuable local and global environmental benefits, including biodiversity conservation, However, these practices are insufficiently attractive to individual land users for them to adopt them...

In a discrete setting, we develop a model for pricing a contingent claim. Since the presence of hedging opportunities influences the price of a contingent claim, first we introduce the optimal hedging strategy assuming a contingent claim has been issued: a strategy implemented by investing the...