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Integrating biodiversity indices into a multi-species optimal control model
Bertram, Christine - 2010
Biodiversity is often adversely affected by human activities. This reduces social welfare but may be external to … private economic decisions. Consequently, these external effects on biodiversity need to be considered explicitly in economic … models, which is only partly reflected in the literature. So far, biodiversity is mostly treated only implicitly in multiple …
Persistent link: https://www.econbiz.de/10010285371
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Introduction to Dynamic and Stochastic Resource Economics : Essays on Biodiversity, Invasive Species, Joint Systems, and Regulation
Batabyal, Amitrajeet A. - 2013
We begin by pointing out that the rise in popular concern about the judicious management of natural and environmental resources has been matched by increasing scholarship by economists on several issues concerning the efficient use and management of these same resources. Second, we note that...
Persistent link: https://www.econbiz.de/10013079990
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Integrating biodiversity indices into a multi-species optimal control model
Bertram, Christine - 2010
Biodiversity is often adversely affected by human activities. This reduces social welfare but may be external to … private economic decisions. Consequently, these external effects on biodiversity need to be considered explicitly in economic … models, which is only partly reflected in the literature. So far, biodiversity is mostly treated only implicitly in multiple …
Persistent link: https://www.econbiz.de/10008699606
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The effect of small intervention costs on the optimal extraction of dividends and renewable resources in a jump-diffusion model
Framstad, Nils Chr. - 2014 - This version November 27, 2014
A risk-neutral agent optimizes extraction of dividends or renewable natural resources modelled by a jump-diffusion stock process, where the optimal strategy is characterized as the minimal intervention required to keep the stock process inside a given region. The introduction of a small fixed...
Persistent link: https://www.econbiz.de/10010436722
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Regulating the tragedy of commons : nonlinear feedback solutions of a differential game with a dual interpretation
Lambertini, Luca - 2017
A well established dynamic model describing the impact of oligopolistic interaction on a renewable resource is revisited here to illustrate its dual interpretation as a waste removal differential game. The regulatory implications are illustrated by assuming that the public agency may control...
Persistent link: https://www.econbiz.de/10011674489
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On the attainment of the maximum sustainable yield in the Verhulst-Lotka-Volterra model
Lambertini, Luca; Leitmann, George - 2017
We reformulate the Verhulst-Lotka-Volterra model of natural resource extraction under the alternative assumptions of Cournot behaviour and perfect competition, to revisit the tragedy of commons vs the possibility of sustainable harvesting. We stress the different impact of demand elasticity on...
Persistent link: https://www.econbiz.de/10011819343
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Harvesting a remote renewable resource
Bayındır-Upmann, Thorsten; Behringer, Stefan - 2017
In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere all the time. In some cases though, it is more realistic to assume that the resource is located at a single point in space and that...
Persistent link: https://www.econbiz.de/10011749978
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Sustainability and Substitution of Exhaustible Natural Resources. How resource prices affect long-term R&D investments
Bretschger, Lucas; Smulders, Sjak - 2003
Traditional resource economics has been criticised for assuming too high elasticities of substitution, not observing material balance principles and relying too much on planner solutions to obtain long-term growth. By analysing a multi-sector R&D-based endogenous growth model with exhaustible...
Persistent link: https://www.econbiz.de/10011325110
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Sustainability and substitution of exhaustible natural resources. How resource prices affect long-term R&D-investments
Bretschger, Lucas; Smulders, Sjak - 2006
Traditional resource economics has been criticised for assuming too high elasticities of substitution, not observing material balance principles and relying too much on planner solutions to obtain long-term growth. By analysing a multi-sector R&Dbased endogenous growth model with exhaustible...
Persistent link: https://www.econbiz.de/10011753091
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Economics of technological change and the natural environment: How effective are innovations as a remedy for resource scarcity?
Bretschger, Lucas - 2004
The paper aims to substantiate the importance of endogenous innovations when evaluating the compatibility of natural resource use and economic development. It explains that technological change has the potential to compensate for natural resource scarcity, diminishing returns to capital, poor...
Persistent link: https://www.econbiz.de/10011753092