A Theoretical analysis of habitat conversion and biodiversity conservation over time and under uncertainty

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dc.contributor.author Batabyal, Amitrajeet
dc.date.accessioned 2009-08-16T01:42:53Z
dc.date.available 2009-08-16T01:42:53Z
dc.date.issued 2002
dc.identifier.uri http://hdl.handle.net/1850/10406
dc.description.abstract We exploit the known links between natural habitats and biodiversity to pose and study the biodiversity conservation question as an optimal stopping problem. We extend the extant literature on this question by studying the role that autonomous and nonautonomous policies play in the decision to conserve biodiversity over time and uncertainty. We first construct a dynamic and stochastic model of decision making in the context of biodiversity conservation. Next, we use this model to analyze the expected utility of a social planner when this planner uses, respectively, autonomous and nonautonomous policies. Finally, we compare and contrast the properties of autonomous and nonautonomous conservation policies and we discuss the magnitude of the flexibility premium stemming from the maintenance of temporal flexibility in decision making. en_US
dc.language.iso en_US en_US
dc.subject Biodiversity conservation en_US
dc.subject Flexibility premium en_US
dc.subject Natural habitat en_US
dc.subject Optimal stopping en_US
dc.title A Theoretical analysis of habitat conversion and biodiversity conservation over time and under uncertainty en_US
dc.type Article en_US

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