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| Author: | Nuppenau, E.-A. |
| Title: | Towards a genuine exchange value of nature: interactions between humans and nature in a principal-agent- framework |
| Journal: | Ecological Economics
2002 : NOV, VOL. 43:1, p. 33-48 |
| Index terms: | MODELS POLITICAL ECONOMY OPTIMIZATION AGENCY THEORY |
| Language: | eng |
| Abstract: | This paper discusses the potential for modeling nature and man in an exchange economy. The authors will firstly be outlining the need for exchange values in addition to the usual human evaluation of nature. Secondly, the authors will be reviewing some basic exchange economy ideas, arguing that these ideas can be adopted to a mutually beneficial exchange between humans and nature. Thirdly, in a formal model, the authors will show how the assumption that a 'civic society' can be adapted to a principal agent approach, whereby humans are the principal and nature is the agent. Issues such as property rights-an objective concerning nature-and services to be exchanged will be introduced. This will include the derivation of a behavioral equation for nature as anticipated by humans. |
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