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Keep it or Leave it - the Role of Reversible Conservation Investments in Optimal Reserve Design under Climate Change

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  • Gerling, Charlotte
  • Schöttker, Oliver
  • Hearne, John

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  • Gerling, Charlotte & Schöttker, Oliver & Hearne, John, 2022. "Keep it or Leave it - the Role of Reversible Conservation Investments in Optimal Reserve Design under Climate Change," VfS Annual Conference 2022 (Basel): Big Data in Economics 264058, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc22:264058
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    1. Duke, Joshua M. & Dundas, Steven J. & Johnston, Robert J. & Messer, Kent D., 2014. "Prioritizing payment for environmental services: Using nonmarket benefits and costs for optimal selection," Ecological Economics, Elsevier, vol. 105(C), pages 319-329.
    2. Victoria Graham & John B. Baumgartner & Linda J. Beaumont & Manuel Esperón-Rodríguez & Alana Grech, 2019. "Prioritizing the protection of climate refugia: designing a climate-ready protected area network," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 62(14), pages 2588-2606, December.
    3. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 4, pages 76-84, Palgrave Macmillan.
    4. M. Brunette & M. Hanewinkel & R. Yousefpour, 2020. "Risk aversion hinders forestry professionals to adapt to climate change," Climatic Change, Springer, vol. 162(4), pages 2157-2180, October.
    5. Montoya, Daniel & Gaba, Sabrina & de Mazancourt, Claire & Bretagnolle, Vincent & Loreau, Michel, 2020. "Reconciling biodiversity conservation, food production and farmers’ demand in agricultural landscapes," Ecological Modelling, Elsevier, vol. 416(C).
    6. Johst, Karin & Drechsler, Martin & Watzold, Frank, 2002. "An ecological-economic modelling procedure to design compensation payments for the efficient spatio-temporal allocation of species protection measures," Ecological Economics, Elsevier, vol. 41(1), pages 37-49, April.
    7. Oliver Schöttker & Frank Wätzold, 2022. "Climate Change and the Cost-Effective Governance Mode for Biodiversity Conservation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 82(2), pages 409-436, June.
    8. Drechsler, Martin & Wätzold, Frank, 2020. "Biodiversity conservation in a dynamic world may lead to inefficiencies due to lock-in effects and path dependence," Ecological Economics, Elsevier, vol. 173(C).
    9. 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.
    10. Hamaide, Bertrand & Albers, Heidi J. & Busby, Gwenlyn, 2014. "Backup coverage models in nature reserve site selection with spatial spread risk heterogeneity," Socio-Economic Planning Sciences, Elsevier, vol. 48(2), pages 158-167.
    11. Emily Fung & Pablo Imbach & Lenin Corrales & Sergio Vilchez & Nelson Zamora & Freddy Argotty & Lee Hannah & Zayra Ramos, 2017. "Mapping conservation priorities and connectivity pathways under climate change for tropical ecosystems," Climatic Change, Springer, vol. 141(1), pages 77-92, March.
    12. Andrew B. Abel & Janice C. Eberly, 1996. "Optimal Investment with Costly Reversibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(4), pages 581-593.
    13. Richard A. Fuller & Eve McDonald-Madden & Kerrie A. Wilson & Josie Carwardine & Hedley S. Grantham & James E. M. Watson & Carissa J. Klein & David C. Green & Hugh P. Possingham, 2010. "Replacing underperforming protected areas achieves better conservation outcomes," Nature, Nature, vol. 466(7304), pages 365-367, July.
    14. Drechsler, Martin & Hartig, Florian, 2011. "Conserving biodiversity with tradable permits under changing conservation costs and habitat restoration time lags," Ecological Economics, Elsevier, vol. 70(3), pages 533-541, January.
    15. Traeger, Christian P., 2014. "On option values in environmental and resource economics," Resource and Energy Economics, Elsevier, vol. 37(C), pages 242-252.
    16. Hartman, Richard & Hendrickson, Michael, 2002. "Optimal partially reversible investment," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 483-508, March.
    17. Jafari, Nahid & Hearne, John, 2013. "A new method to solve the fully connected Reserve Network Design Problem," European Journal of Operational Research, Elsevier, vol. 231(1), pages 202-209.
    18. Verbruggen, Aviel, 2013. "Revocability and reversibility in societal decision-making," Ecological Economics, Elsevier, vol. 85(C), pages 20-27.
    19. Costello, Christopher & Polasky, Stephen, 2004. "Dynamic reserve site selection," Resource and Energy Economics, Elsevier, vol. 26(2), pages 157-174, June.
    20. Ishan B. Nath, 2020. "The Food Problem and the Aggregate Productivity Consequences of Climate Change," NBER Working Papers 27297, National Bureau of Economic Research, Inc.
    21. Baldwin, Carliss Y, 1982. "Optimal Sequential Investment When Capital Is Not Readily Reversible," Journal of Finance, American Finance Association, vol. 37(3), pages 763-782, June.
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    JEL classification:

    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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