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A Market-Based Approach to Manage Endangered Species Interactions

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Abstract

An economic activity interacts with an endangered species. The activity can be divided into mutually exclusive strata with different levels of interaction. Observing the activity in order to monitor interactions is costly. It may be desirable to manage the activity with a probability model which balances the benefit from the activity against the cost of the interaction with the endangered specie instead. The model gives rise to a permit scheme which fixates the risk of interaction over all strata and which uses the market mechanism to optimally allocate the activity between strata. The model can facilitate uncertainty in interaction rate estimates.

Suggested Citation

  • Kvamsdal, Sturla Furunes & Stohs, Stephen M., 2010. "A Market-Based Approach to Manage Endangered Species Interactions," Discussion Papers 2010/11, Norwegian School of Economics, Department of Business and Management Science.
    • Handle: RePEc:hhs:nhhfms:2010_011
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    File URL: http://hdl.handle.net/11250/164148
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    Keywords

    Endangered species interactions; permit scheme; probability model;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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