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Pattern Formation, Spatial Externalities and Regulation in Coupled Economic-Ecological Systems

  • Brock, William
  • Xepapadeas, Anastasios

We develop a novel theoretical framework for studying ecosystems in which interacting state variables which are affected by management decisions diffuse in space. We identify (i) mechanisms creating spatial patterns when economic agents maximize profit at each site by ignoring the impact of their actions on other sites and (ii) a diffusion induced externality. Pattern formation mechanisms and externalities create a divergence in the spatiotemporal structures emerging under private or social objectives We develop optimal regulation which internalize the spatiotemporal externalities. Our theory is applied to the management and regulation of a semi-arid system. Supporting numerical simulations are also presented.

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File URL: http://mpra.ub.uni-muenchen.de/9105/1/MPRA_paper_9105.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9105.

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Date of creation: 11 Jun 2008
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Handle: RePEc:pra:mprapa:9105
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  1. JunJie Wu & Bruce Babcock, 2001. "Spatial Heterogeneity and the Choice of Instruments to Control Nonpoint Pollution," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 18(2), pages 173-192, February.
  2. Sanchirico, James N. & Wilen, James E., 2001. "A Bioeconomic Model of Marine Reserve Creation," Journal of Environmental Economics and Management, Elsevier, vol. 42(3), pages 257-276, November.
  3. Smith, Martin D. & Wilen, James E., 2003. "Economic impacts of marine reserves: the importance of spatial behavior," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 183-206, September.
  4. Brock, William & Xepapadeas, Anastasios, 2008. "Diffusion-induced instability and pattern formation in infinite horizon recursive optimal control," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2745-2787, September.
  5. Stephen Polasky & Jeffrey D. Camm & Brian Garber-Yonts, 2001. "Selecting Biological Reserves Cost-Effectively: An Application to Terrestrial Vertebrate Conservation in Oregon," Land Economics, University of Wisconsin Press, vol. 77(1), pages 68-78.
  6. Brock, William A. & Scheinkman, JoseA., 1976. "Global asymptotic stability of optimal control systems with applications to the theory of economic growth," Journal of Economic Theory, Elsevier, vol. 12(1), pages 164-190, February.
  7. Sanchirico, James N. & Wilen, James E., 2005. "Optimal spatial management of renewable resources: matching policy scope to ecosystem scale," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 23-46, July.
  8. Sanchirico, James N. & Wilen, James E., 1999. "Bioeconomics of Spatial Exploitation in a Patchy Environment," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 129-150, March.
  9. Smith, Martin D. & Sanchirico, James N. & Wilen, James E., 2009. "The economics of spatial-dynamic processes: Applications to renewable resources," Journal of Environmental Economics and Management, Elsevier, vol. 57(1), pages 104-121, January.
  10. James E. Wilen, 2007. "Economics of Spatial-Dynamic Processes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(5), pages 1134-1144.
  11. Hochman, Eithan & Pines, David & Zilberman, David, 1977. "The Effects of Pollution Taxation on the Pattern of Resource Allocation: The Downstream Diffusion Case," The Quarterly Journal of Economics, MIT Press, vol. 91(4), pages 625-38, November.
  12. Costello, Christopher & Polasky, Stephen, 2008. "Optimal harvesting of stochastic spatial resources," Journal of Environmental Economics and Management, Elsevier, vol. 56(1), pages 1-18, July.
  13. Sanchirico, James N., 2005. "Additivity properties in metapopulation models: implications for the assessment of marine reserves," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 1-25, January.
  14. Goetz, Renan U. & Zilberman, David, 2000. "The dynamics of spatial pollution: The case of phosphorus runoff from agricultural land," Journal of Economic Dynamics and Control, Elsevier, vol. 24(1), pages 143-163, January.
  15. Costello, Christopher & Polasky, Stephen, 2004. "Dynamic reserve site selection," Resource and Energy Economics, Elsevier, vol. 26(2), pages 157-174, June.
  16. Feichtinger, Gustav & Novak, Andreas & Wirl, Franz, 1994. "Limit cycles in intertemporal adjustment models : Theory and applications," Journal of Economic Dynamics and Control, Elsevier, vol. 18(2), pages 353-380, March.
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