A Stochastic model of an ecological–economic system with two keystone species

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Title: A Stochastic model of an ecological–economic system with two keystone species
Author: Batabyal, Amitrajeet
Abstract: Actions taken by a manager affect the health of the keystone species of an ecological– economic system. In turn, the health of these keystone species largely determines the resilience of the underlying ecological–economic system. What are the nexuses between managerial actions, keystone species, and the resilience of ecological–economic systems? Recently, Batabyal [Batabyal, A.A., 2002. Human Actions, the survival of keystone species, and the resilience of ecological–economic systems, Resources Policy,28, 153–157., Batabyal, A.A., 2004. On the links between managerial actions, keystone species, and the resilience of ecological–economic systems, Brazilian Journal of Business Economics, 4, 51–58.] has used a Markov chain theoretic framework to address aspects of this question. Here, we use renewal theory and continue the inquiry begun by Batabyal. First, we construct a stochastic model of an ecological–economic system with two keystone species. Next, we answer four specific questions concerning the probabilistic attributes of this ecological–economic system. Finally, we comment on the connections between managerial actions, keystone species, and this ecological–economic system's resilience.
Description: RIT community members may access full-text via RIT Libraries licensed databases: http://library.rit.edu/databases/
Record URI: http://hdl.handle.net/1850/10081
Publishers URL: http://dx.doi.org/10.1016/j.ecolecon.2007.05.001
Date: 2007-06-05

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