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Commercial cattle farming in Namibia, a prime example of livestock farming in semi-arid rangelands, is subject to a variety of risks, predominant among which is precipitation risk. At the same time it suffers from rangeland degradation that is at least partly due to inadequate management. We...
Persistent link: https://www.econbiz.de/10010294486
We propose a formal description of individual preferences that captures a subsistence requirement in consumption in an otherwise standard constant-elasticity-ofsubstitution (CES) utility specification. We study how substitutability between the subsistence good and another good depends on the...
Persistent link: https://www.econbiz.de/10010333508
The ecological literature suggests that biodiversity reduces the variance of ecosystem services. Thus, conservative biodiversity management has an insurance value to risk-averse users of ecosystem services. We analyze a conceptual ecological-economic model in which such management measures...
Persistent link: https://www.econbiz.de/10010265129
Agro-biodiversity can provide natural insurance to risk averse farmers. We employ a conceptual ecological-economic model to analyze the choice of agrobiodiversity by risk averse farmers who have access to financial insurance. We study the implications for individually and socially optimal...
Persistent link: https://www.econbiz.de/10010265157
Agro-biodiversity can provide natural insurance to risk-averse farmers by reducing the variance of crop yield, and to society at large by reducing the uncertainty in the provision of public-good ecosystem services such as e.g. CO2 storage. We analyze the choice of agro-biodiversity by...
Persistent link: https://www.econbiz.de/10010265171
Strong sustainability, according to the common definition, requires that different natural and economic capital stocks have to be maintained as physical quantities separately. Yet, in a world of uncertainty this cannot be guaranteed. To therefore define strong sustainability under uncertainty in...
Persistent link: https://www.econbiz.de/10010265172
We perform a model analysis to study the origins of limited resilience in ecological-economic systems. We demonstrate that the resilience properties of the ecosystem are essentially determined by the management institutions and consumers' preferences for ecosystem services. In particular, we...
Persistent link: https://www.econbiz.de/10010265202
Studying the sustainable use of ecosystem services under uncertainty requires the consideration of the stochastic dynamics of the system under study, risk and time preferences, risk management strategies and normative views pertaining to sustainability. To gather this information for an...
Persistent link: https://www.econbiz.de/10010265926
We elicit risk preferences and their determinants through a survey and field experiments for cattle farmers in Namibia who are subject to heterogeneous environmental risk. Survey data is complemented with precipitation data simulated by a climate model to analyze the relationship between risk...
Persistent link: https://www.econbiz.de/10010270081
Persistent link: https://www.econbiz.de/10014523347