| Author: | Batabyal, A. A. Kahn, J. R. O'Neill, R. V. |
| Title: | On the Scarcity Value of Ecosystem Services |
| Journal: | Journal of Environmental Economics and Management
2003 : SEP, VOL. 46:2, p. 334-352 |
| Index terms: | ECOLOGY STOCHASTIC PROCESSES ENVIRONMENTAL ECONOMICS |
| Language: | eng |
| Abstract: | In this exploratory paper, the authors first make a case for considering the scarcity value of ecosystem services in the analyses of jointly determined ecological-economic systems. Next, the authors point out that insight into the scarcity value of an ecosystem service can be gained generally by examining the manner in which the state of an ecosystem responds to changes in environmental conditions. Following this, the authors specialize the discussion to the case of eutrophication in lakes. Finally, the authors show that this stochastic control theoretic framework can be used to obtain a numerical value that is closely related to the scarcity value of an ecosystem service provided by lakes. |
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