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Preserving Biodiversity: Ambiguity and Safety Rules

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Author Info
Giannis Vardas (Department of Economics, University of Crete)
Anastasios Xepapadeas () (Department of Economics, University of Crete)

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Abstract

Safety rules are developed, for biodiversity preservation. These rules are designed to take into account the impact of uncertainty and worst case scenarios, which when combined with unregulated ecosystem management decisions, might produce extinction of species. The safety rules take the form of fixed land allocation and fixed harvesting rules under uncertainty. We explore how model uncertainty affects these safety rules relative to the classic risk aversion case and how a measure of precaution against worst case scenarios can be formulated.

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File URL: http://www.soc.uoc.gr/econ/wpa/docs/VaRLSTP.pdf
File Format: application/pdf
File Function: First version, 2006
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Publisher Info
Paper provided by University of Crete, Department of Economics in its series Working Papers with number 0607.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length: 17 pages
Date of creation: 11 Mar 2006
Date of revision:
Handle: RePEc:crt:wpaper:0607

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Related research
Keywords: Biodiversity Preservation Model Uncertainty Safety Rules

Find related papers by JEL classification:
Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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