We investigate the relationship between yield stability and species diversity in managed grasslands. To this end …, ecological economic and econometric frameworks are developed and applied to evaluate potential risk-reducing effects of species … experiment covering in total 60 species and a period of 6 years. We find empirical evidence for the risk-reducing effect of …

.Putative insurance premiums priced as putoptions on revenues from hay yield were higherfor fertilized low-diversity grassland than … thatincreased costs of risk in species-poorfertilized grassland may affect the optimumlevel of fertilization making lower …Recent ecological experiments suggest that theinterannual stability of ecosystem productivitymay be determined by the …