haku: @author Roy, S. / yhteensä: 20
viite: 16 / 20
| Tekijä: | Olson, L. J. Roy, S. |
| Otsikko: | Dynamic Efficiency of Conservation of Renewable Resources under Uncertainty |
| Lehti: | Journal of Economic Theory
2000 : DEC, VOL. 95:2, p. 186-214 |
| Asiasana: | UNCERTAINTY CONSERVATION ENVIRONMENT EFFECTIVENESS |
| Kieli: | eng |
| Tiivistelmä: | The authors examine the efficiency of conservation of a renewable resource whose natural productivity is influenced by random environmental disturbances. They allow for non-concave biological production and stock- dependent social welfare. Unlike deterministic models, conservation may be may be inefficient no matter how productive the resource growth function is. In addition, improvements in the natural productivity of the resource might increase the possibility of extinction. The authors characterize the conditions on social welfare, resource growth, the discount rate and the distribution of environmental disturbances that are sufficient for conservation to be efficient. |
SCIMA