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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. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Traeger, Christian P., 2014. "On option values in environmental and resource economics," Resource and Energy Economics, Elsevier, vol. 37(C), pages 242-252.
    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. 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.
    9. Hartman, Richard & Hendrickson, Michael, 2002. "Optimal partially reversible investment," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 483-508, March.
    10. 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.
    11. 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.
    12. 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.
    13. 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).
    14. Verbruggen, Aviel, 2013. "Revocability and reversibility in societal decision-making," Ecological Economics, Elsevier, vol. 85(C), pages 20-27.
    15. 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.
    16. Costello, Christopher & Polasky, Stephen, 2004. "Dynamic reserve site selection," Resource and Energy Economics, Elsevier, vol. 26(2), pages 157-174, June.
    17. 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.
    18. 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).
    19. 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.
    20. 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.
    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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