Non market valuation and bio economic modelling are combined in a dynamic model of ecosystem services. A mathematical proof demonstrates that the imputed price of natural capital contains all non market values and that scarcity rent is the total value of ecosystem services. A dynamic demand...

Economic research on the consumption of harmful goods focuses principally on the addictive nature of consumption rather than its impacts on health, despite medical research showing that consumers primarily consider health effects when making decisions about addictive behaviour. In this paper,...

Harold Hotelling proposed the first method for non-market valuation. Most of us believe this is the Travel Cost Method. In this paper I argue that the first method is from Hotelling's seminal study on the extraction of exhaustible resources. The first method is dynamic optimisation as applied to...

Following the reforms of doi moi, household farms in Vietnam are being affected by policies which are implementing land, financial and trade reforms. The nature of agriculture in Vietnam is such that household farms operate within and are constrained by the activities of their location within a...

Australian crop and livestock farmers face uncertain climate change and variability and a challenge for adaptation decisions. These decisions can be (1) adjustments to practices and technologies, (2) changes to production systems, or (3) transformation of industries, for example, by relocation...

A bioeconomic model of reservoir aquaculture in northern Vietnam, called BRAVO, is presented. The biological model is based on a conventional von Bertalanffy growth function and the economic model is a net revenue function. The greatest source of costs for the operation are restocking costs (75...