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Single Species Versus Multiple Species Models: The Economic Implications

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  • Fleming, Christopher M.
  • Alexander, Robert R.

Abstract

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.

Suggested Citation

  • Fleming, Christopher M. & Alexander, Robert R., 2002. "Single Species Versus Multiple Species Models: The Economic Implications," Discussion Papers in Natural Resource Economics 23693, Massey University, Centre for Applied Economics and Policy Studies.
  • Handle: RePEc:ags:masdpn:23693
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    File URL: http://purl.umn.edu/23693
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. Anders Skonhoft, 1999. "On the Optimal Exploitation of Terrestrial Animal Species," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 13(1), pages 45-57, January.
    4. 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.
    5. 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 124-124.
    6. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-961, July-Aug..
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    Citations

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    Cited by:

    1. Nicolas Querou & Agnès Tomini, 2014. "Ecosystem considerations in a second-best world," Post-Print hal-01123390, HAL.
    2. Katarina Elofsson & Ing-Marie Gren, 2015. "Regulating invasive species with different life history," Journal of Bioeconomics, Springer, vol. 17(2), pages 113-136, July.
    3. Poudel, Diwakar & Sandal, Leif K. & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2012. "Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?," Discussion Papers 2012/1, Norwegian School of Economics, Department of Business and Management Science.
    4. Nicolas Quérou & Agnès Tomini, 2015. "Marine ecosystem considerations and second-best management," Working Papers 15-05, LAMETA, Universitiy of Montpellier, revised Mar 2015.
    5. Poudel, Diwakar & Sandal, Leif K., 2014. "Stochastic Optimization for Multispecies Fisheries in the Barents Sea," Discussion Papers 2014/2, Norwegian School of Economics, Department of Business and Management Science.
    6. Giovanni Bella, 2007. "A Bug’s Life: Competition Among Species Towards the Environment," Working Papers 2007.18, Fondazione Eni Enrico Mattei.

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    Keywords

    Resource /Energy Economics and Policy;

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