IDEAS home Printed from https://ideas.repec.org/a/eee/ecomod/v210y2008i4p487-498.html
   My bibliography  Save this article

Integrating selected ecological effects of mixed European beech–Norway spruce stands in bioeconomic modelling

Author

Listed:
  • Knoke, Thomas
  • Seifert, Thomas

Abstract

The simplicity of many bioeconomic models has been criticised several times, due to their lack of realism resulting from a deterministic nature and a single-species focus. In this context it was interesting to test the financial sensitivity of bioeconomic modelling against fairly well documented ecological effects in mixed forests. For this purpose our study linked existing results of ecological research with bioeconomic modelling. The presented methodological approach could not only show the importance of considering ecological effects in bioeconomic models; it in fact enabled prioritising ecological research from a financial point of view.

Suggested Citation

  • Knoke, Thomas & Seifert, Thomas, 2008. "Integrating selected ecological effects of mixed European beech–Norway spruce stands in bioeconomic modelling," Ecological Modelling, Elsevier, vol. 210(4), pages 487-498.
    • Handle: RePEc:eee:ecomod:v:210:y:2008:i:4:p:487-498
    DOI: 10.1016/j.ecolmodel.2007.08.011
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0304380007004206
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ecolmodel.2007.08.011?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
    2. Bulte, Erwin H. & van Kooten, G. Cornelis, 1999. "Metapopulation dynamics and stochastic bioeconomic modeling," Ecological Economics, Elsevier, vol. 30(2), pages 293-299, August.
    3. Armstrong, Claire W., 2007. "A note on the ecological-economic modelling of marine reserves in fisheries," Ecological Economics, Elsevier, vol. 62(2), pages 242-250, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Moreno, N. & Moreno, R. & Molina, J.R., 2019. "Optimal harvest cycle on Nothofagus forests including carbon storage in Southern America: An application to Chilean subsidies in temperate forests," Land Use Policy, Elsevier, vol. 81(C), pages 705-713.
    2. Hildebrandt, Patrick & Knoke, Thomas, 2009. "Optimizing the shares of native tree species in forest plantations with biased financial parameters," Ecological Economics, Elsevier, vol. 68(11), pages 2825-2833, September.
    3. Susanne Neuner & Thomas Knoke, 2017. "Economic consequences of altered survival of mixed or pure Norway spruce under a dryer and warmer climate," Climatic Change, Springer, vol. 140(3), pages 519-531, February.
    4. Knoke, Thomas & Steinbeis, Otto-Emmanuel & Bösch, Matthias & Román-Cuesta, Rosa María & Burkhardt, Thomas, 2011. "Cost-effective compensation to avoid carbon emissions from forest loss: An approach to consider price-quantity effects and risk-aversion," Ecological Economics, Elsevier, vol. 70(6), pages 1139-1153, April.
    5. Morag F. Macpherson & Adam Kleczkowski & John R. Healey & Chris Quine & Nick Hanley, 2016. "The Effects of Invasive Pests and Diseases on Strategies for Forest Diversification," Discussion Papers in Environment and Development Economics 2016-11, University of St. Andrews, School of Geography and Sustainable Development.
    6. Schou, Erik & Jacobsen, Jette Bredahl & Kristensen, Kristian Løkke, 2012. "An economic evaluation of strategies for transforming even-aged into near-natural forestry in a conifer-dominated forest in Denmark," Forest Policy and Economics, Elsevier, vol. 20(C), pages 89-98.
    7. Roessiger, Joerg & Griess, Verena C. & Härtl, Fabian & Clasen, Christian & Knoke, Thomas, 2013. "How economic performance of a stand increases due to decreased failure risk associated with the admixing of species," Ecological Modelling, Elsevier, vol. 255(C), pages 58-69.
    8. Macpherson, Morag F. & Kleczkowski, Adam & Healey, John R. & Quine, Christopher P. & Hanley, Nick, 2017. "The effects of invasive pests and pathogens on strategies for forest diversification," Ecological Modelling, Elsevier, vol. 350(C), pages 87-99.
    9. Kolo, Horst & Kindu, Mengistie & Knoke, Thomas, 2020. "Optimizing forest management for timber production, carbon sequestration and groundwater recharge," Ecosystem Services, Elsevier, vol. 44(C).
    10. Clasen, Christian & Griess, Verena C. & Knoke, Thomas, 2011. "Financial consequences of losing admixed tree species: A new approach to value increased financial risks by ungulate browsing," Forest Policy and Economics, Elsevier, vol. 13(6), pages 503-511, July.
    11. Friedrich, Stefan & Paul, Carola & Brandl, Susanne & Biber, Peter & Messerer, Katharina & Knoke, Thomas, 2019. "Economic impact of growth effects in mixed stands of Norway spruce and European beech – A simulation based study," Forest Policy and Economics, Elsevier, vol. 104(C), pages 65-80.
    12. Hildebrandt, Patrick & Knoke, Thomas, 2011. "Investment decisions under uncertainty--A methodological review on forest science studies," Forest Policy and Economics, Elsevier, vol. 13(1), pages 1-15, January.
    13. Janová, Jitka & Hampel, David & Kadlec, Jiří & Vrška, Tomáš, 2022. "Motivations behind the forest managers’ decision making about mixed forests in the Czech Republic," Forest Policy and Economics, Elsevier, vol. 144(C).
    14. Luz Maria Castro & Fabian Härtl & Santiago Ochoa & Baltazar Calvas & Leonardo Izquierdo & Thomas Knoke, 2018. "Integrated bio-economic models as tools to support land-use decision making: a review of potential and limitations," Journal of Bioeconomics, Springer, vol. 20(2), pages 183-211, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nobre, A.M. & Musango, J.K. & de Wit, M.P. & Ferreira, J.G., 2009. "A dynamic ecological-economic modeling approach for aquaculture management," Ecological Economics, Elsevier, vol. 68(12), pages 3007-3017, October.
    2. Akosah, Nana Kwame & Alagidede, Imhotep Paul & Schaling, Eric, 2020. "Testing for asymmetry in monetary policy rule for small-open developing economies: Multiscale Bayesian quantile evidence from Ghana," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    3. Cui, Xueting & Zhu, Shushang & Sun, Xiaoling & Li, Duan, 2013. "Nonlinear portfolio selection using approximate parametric Value-at-Risk," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 2124-2139.
    4. Pichler, Anton & Poledna, Sebastian & Thurner, Stefan, 2021. "Systemic risk-efficient asset allocations: Minimization of systemic risk as a network optimization problem," Journal of Financial Stability, Elsevier, vol. 52(C).
    5. Peter A. Abken & Milind M. Shrikhande, 1997. "The role of currency derivatives in internationally diversified portfolios," Economic Review, Federal Reserve Bank of Atlanta, vol. 82(Q 3), pages 34-59.
    6. Dhanya Jothimani & Ravi Shankar & Surendra S. Yadav, 2018. "A Big data analytical framework for portfolio optimization," Papers 1811.07188, arXiv.org, revised Nov 2018.
    7. Leonard J. Mirman & Egas M. Salgueiro & Marc Santugini, 2013. "Integrating Real and Financial Decisions of the Firm," Cahiers de recherche 1333, CIRPEE.
    8. Dominique Guégan & Wayne Tarrant, 2012. "On the necessity of five risk measures," Annals of Finance, Springer, vol. 8(4), pages 533-552, November.
    9. Andriosopoulos, Kostas & Nomikos, Nikos, 2014. "Performance replication of the Spot Energy Index with optimal equity portfolio selection: Evidence from the UK, US and Brazilian markets," European Journal of Operational Research, Elsevier, vol. 234(2), pages 571-582.
    10. Raffestin, Louis, 2014. "Diversification and systemic risk," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 85-106.
    11. Sridhar, Shrihari & Naik, Prasad A. & Kelkar, Ajay, 2017. "Metrics unreliability and marketing overspending," International Journal of Research in Marketing, Elsevier, vol. 34(4), pages 761-779.
    12. Vithayasrichareon, Peerapat & MacGill, Iain F., 2013. "Assessing the value of wind generation in future carbon constrained electricity industries," Energy Policy, Elsevier, vol. 53(C), pages 400-412.
    13. Gruber, Lutz F. & West, Mike, 2017. "Bayesian online variable selection and scalable multivariate volatility forecasting in simultaneous graphical dynamic linear models," Econometrics and Statistics, Elsevier, vol. 3(C), pages 3-22.
    14. repec:dau:papers:123456789/2256 is not listed on IDEAS
    15. Gupta, Pankaj & Mittal, Garima & Mehlawat, Mukesh Kumar, 2013. "Expected value multiobjective portfolio rebalancing model with fuzzy parameters," Insurance: Mathematics and Economics, Elsevier, vol. 52(2), pages 190-203.
    16. Ke Zhou & Jiangjun Gao & Duan Li & Xiangyu Cui, 2017. "Dynamic mean–VaR portfolio selection in continuous time," Quantitative Finance, Taylor & Francis Journals, vol. 17(10), pages 1631-1643, October.
    17. Sanchez-Romero, Miguel, 2006. "“Demand for Private Annuities and Social Security: Consequences to Individual Wealth”," Working Papers in Economic Theory 2006/07, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    18. Muhinyuza, Stanislas & Bodnar, Taras & Lindholm, Mathias, 2020. "A test on the location of the tangency portfolio on the set of feasible portfolios," Applied Mathematics and Computation, Elsevier, vol. 386(C).
    19. Hany Shawky & Ronald Forbes & Alan Frankle, 1983. "Liquidity Services and Capital Market Equilibrium: The Case for Money Market Mutual Funds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 6(2), pages 141-152, June.
    20. Colin Atkinson & Emmeline Storey, 2010. "Building an Optimal Portfolio in Discrete Time in the Presence of Transaction Costs," Applied Mathematical Finance, Taylor & Francis Journals, vol. 17(4), pages 323-357.
    21. Malavasi, Matteo & Ortobelli Lozza, Sergio & Trück, Stefan, 2021. "Second order of stochastic dominance efficiency vs mean variance efficiency," European Journal of Operational Research, Elsevier, vol. 290(3), pages 1192-1206.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecomod:v:210:y:2008:i:4:p:487-498. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/ecological-modelling .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.