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Divergent Time Scales in a Coupled Ecological-Economic Model of Regional Growth

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Author Info
Chen, Yong
Jayaprakash, Ciriyam
Irwin, Elena G.
Abstract

This paper establishes a coupled human-ecological model where slow-varying migration is interacting with fast-varying nutrient dynamics in lake ecology. The nonlinearity and fast-slow dynamics built in the model can generate regime shifts (that is, shifts between different equilibrium states) and slowly-reversible ecological changes. Because ecological conditions do affect and are affected by uncoordinated individual decisions on migration and land-use, the policy challenge does not only lie in the optimal use of ecological service but also in the provision of the right incentives that regulates individual behavior. The possibility of regime shifts and slowly-reversible changes in this coupled model makes policy analysis more interesting and technically challenging. Within this framework, this paper shows that specification of relative time scale between the fast and slow dynamic processes is crucial for the analysis of the system dynamics with/without policy intervention. The calculated solutions show that specification of relative time scale can significantly change the cost, magnitude and length of active intervention in optimal policy. This paper shows that optimal policy (even when resilience does not enter into optimization problem) will always increase the resilience of the desirable equilibrium in the coupled system. The extent of this improvement in resilience depends crucially on the relative time scale. It also shows that simplifying assumptions on the relative time scale can lead to incorrect predictions for both the short-and long-run dynamics.

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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida with number 6195.

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Date of creation: 2008
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Handle: RePEc:ags:aaea08:6195

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Keywords: Environmental Economics and Policy;

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  4. Irwin, Elena G. & Jayaprakash, Ciriyam & Chen, Yong, 2007. "A Dynamic Model of Household Location, Regional Growth and Endogenous Natural Amenities with Cross-Scale Interactions," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9888, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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  7. Oses-Eraso, Nuria & Viladrich-Grau, Montserrat, 2007. "On the sustainability of common property resources," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 393-410, May. [Downloadable!] (restricted)
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  9. Wu, JunJie, 2006. "Environmental amenities, urban sprawl, and community characteristics," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 527-547, September. [Downloadable!] (restricted)
  10. Huffaker, Ray & Hotchkiss, Rollin, 2006. "Economic dynamics of reservoir sedimentation management: Optimal control with singularly perturbed equations of motion," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2553-2575, December. [Downloadable!] (restricted)
  11. Hahn, Robert W., 2000. "The Impact of Economics on Environmental Policy," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 375-399, May. [Downloadable!] (restricted)
  12. Keller, Klaus & Bolker, Benjamin M. & Bradford, D.F.David F., 2004. "Uncertain climate thresholds and optimal economic growth," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 723-741, July. [Downloadable!] (restricted)
  13. Mohtadi, Hamid, 1996. "Environment, growth, and optimal policy design," Journal of Public Economics, Elsevier, vol. 63(1), pages 119-140, December. [Downloadable!] (restricted)
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