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Pricing the ecosystem and taxing ecosystem services: A general equilibrium approach

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  • Eichner, Thomas
  • Pethig, Rüdiger

Abstract

In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and other species compete for land and prey biomass. Each submodel exhibits a price-driven competitive allocation mechanism, and the endogenously determined habitat is either openly accessible or privately owned. In both scenarios specific corrective taxes or subsidies are needed to internalize ecosystem externalities. An open access habitat causes additional inefficiencies through diverging prices for biomass and land in both subsystems. Values of all ecosystem components are determined in an efficient steady state clarifying the role and the interplay of ecosystem prices and economic prices.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 144 (2009)
Issue (Month): 4 (July)
Pages: 1589-1616

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Handle: RePEc:eee:jetheo:v:144:y:2009:i:4:p:1589-1616

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Web page: http://www.elsevier.com/locate/inca/622869

Related research

Keywords: Land Biomass Ecosystem services;

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References

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  1. van den Bergh, Jeroen C. J. M. & Nijkamp, Peter, 1991. "Operationalizing sustainable development: dynamic ecological economic models," Ecological Economics, Elsevier, vol. 4(1), pages 11-33, October.
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  3. Deacon, Robert T. & Brookshire, David S. & Fisher, Anthony C. & Kneese, Allen V. & Kolstad, Charles D. & Scrogin, David & Smith, V. Kerry & Ward, Michael & Wilen, James, 1998. "Research Trends and Opportunities in Environmental and NaturalResource Economics," Working Papers 98-05, Duke University, Department of Economics.
  4. Albers, Heidi J., 1996. "Modeling Ecological Constraints on Tropical Forest Management: Spatial Interdependence, Irreversibility, and Uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 73-94, January.
  5. Thomas Christiaans & Thomas Eichner & Rüdiger Pethig, 2005. "A Micro-Level 'Consumer Approach' to Species Population Dynamics," CESifo Working Paper Series 1530, CESifo Group Munich.
  6. William A. Brock & Anastasios Xepapadeas, 2003. "Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological, and Genetic Approach," American Economic Review, American Economic Association, vol. 93(5), pages 1597-1614, December.
  7. Thomas Eichner & Rüdiger Pethig, 2006. "Efficient nonanthropocentric nature protection," Social Choice and Welfare, Springer, vol. 26(1), pages 47-74, January.
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  14. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Discussion Papers in Economics at the University of Washington 0025, Department of Economics at the University of Washington.
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  16. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Working Papers 0025, University of Washington, Department of Economics.
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Citations

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Cited by:
  1. Amegashie, J. Atsu & Ouattara, Bazoumanna & Strobl, Eric, 2007. "Moral Hazard and the Composition of Transfers: Theory with an Application to Foreign Aid," MPRA Paper 3158, University Library of Munich, Germany, revised 06 May 2007.
  2. Thomas Eichner & Rüdiger Pethig, 2007. "Harvesting in an integrated general equilibrium model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 233-252, May.
  3. Finnoff, David & Gong, Min & Tschirhart, John, 2012. "Perspectives on Ecosystem Based Management for Delivering Ecosystem Services with an Example from an Eighteen-Species Marine Model," International Review of Environmental and Resource Economics, now publishers, vol. 6(1), pages 79-118, January.
  4. Hussain, A.M. Tanvir & Tschirhart, John, 2013. "Economic/ecological tradeoffs among ecosystem services and biodiversity conservation," Ecological Economics, Elsevier, vol. 93(C), pages 116-127.
  5. John Tschirhart, 2012. "Biology as a Source of Non-convexities in Ecological Production Functions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 51(2), pages 189-213, February.

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