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Single Species Versus Multiple Species Models: The Economic Implications

  • Fleming, Christopher M.
  • Alexander, Robert R.
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    Ecologists frequently note the importance of modelling entire ecosystems rather than single species, but most bioeconomic models in the current literature focus on a single species. While the mathematical difficulty of multiple species may quickly become overwhelming, sometimes making the single species option necessary, it is important to recognise the significance of the single species assumption to the model results. In this paper, the authors address the economic significance of this assumption through the development of a multiple species model and demonstrate the importance of interrelationships and economic values to the survival of endangered species.

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    File URL: http://purl.umn.edu/23693
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    Paper provided by Massey University, Centre for Applied Economics and Policy Studies in its series Discussion Papers in Natural Resource Economics with number 23693.

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    Date of creation: 2002
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    Handle: RePEc:ags:masdpn:23693
    Contact details of provider: Postal: Massey University, Palmerston North
    Phone: +6 356 9099
    Fax: +6 350 5660
    Web page: http://econ.massey.ac.nz/caps/

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    1. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
    2. Baumgartner, Stefan & Dyckhoff, Harald & Faber, Malte & Proops, John & Schiller, Johannes, 2001. "The concept of joint production and ecological economics," Ecological Economics, Elsevier, vol. 36(3), pages 365-372, March.
    3. Ragozin, David L. & Brown, Gardner Jr., 1985. "Harvest policies and nonmarket valuation in a predator -- prey system," Journal of Environmental Economics and Management, Elsevier, vol. 12(2), pages 155-168, June.
    4. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-61, July-Aug..
    5. Anders Skonhoft, 1999. "On the Optimal Exploitation of Terrestrial Animal Species," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(1), pages 45-57, January.
    6. Bulte, Erwin H. & van Kooten, G. Cornelis, 1996. "A note on ivory trade and elephant conservation," Environment and Development Economics, Cambridge University Press, vol. 1(04), pages 433-443, October.
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