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A Bioeconomic Model of the Great Salt lake Watershed

Author

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  • David Finnoff
  • Arthur Caplan

Abstract

We present a computable general equilibrium model of the interface between the Great Salt Lake (GSL) ecosystem and the regional economy that impacts the ecosystem. With respect to the ecosystem, the model treats the various representative species as net-energy maximizers and bases population dynamics on the period-by-period sizes of surplus net energy. Energy markets—where predators and prey exchange biomass—determine equilibrium energy prices. With respect to the regional economy, we model five production sectors (at the aggregate industry level)—brine cyst harvesters, the mineral-extraction industry, agriculture, recreation, and a composite-good industry—as well as the household sector. By performing dynamic simulations of the joint ecosystem-regional economy model, we isolate the effects of period-by-period stochastic changes in salinity levels and an initial shock to species-population levels on the ecological and economic variables of the model.

Suggested Citation

  • David Finnoff & Arthur Caplan, 2004. "A Bioeconomic Model of the Great Salt lake Watershed," Working Papers 2004-14, Utah State University, Department of Economics.
    • Handle: RePEc:usu:wpaper:2004-14
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    File URL: https://repec.bus.usu.edu/RePEc/usu/pdf/ERI2004-14.pdf
    File Function: First version, 2004
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    Citations

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    Cited by:

    1. Rashid Hassan & James Thurlow, 2011. "Macro–micro feedback links of water management in South Africa: CGE analyses of selected policy regimes," Agricultural Economics, International Association of Agricultural Economists, vol. 42(2), pages 235-247, March.

    More about this item

    Keywords

    net energy; biomass demand and supply; regional economy; Great Salt Lake;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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