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Stock Externality vs. Symbiosis in a Forest-Air System

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  • Oskar Von dem Hagen
  • Holger Wacker

Abstract

Stock externalities and ecological interaction have similar equilibrium effects. The influence on the dynamics of an ecosystem, however, is quite different. The different effects are laid out theoretically in the context of a forest-air model. We compare a centralized, welfare-maximizing policy and decentralized policies. Finally, we numerically simulate the dynamic differences between stock externalities and ecological interaction. Copyright Kluwer Academic Publishers 2001

Suggested Citation

  • Oskar Von dem Hagen & Holger Wacker, 2001. "Stock Externality vs. Symbiosis in a Forest-Air System," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 20(3), pages 197-210, November.
    • Handle: RePEc:kap:enreec:v:20:y:2001:i:3:p:197-210
    DOI: 10.1023/A:1012634101092
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    References listed on IDEAS

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    1. Ben White, 2000. "A Review of the Economics of Biological Natural Resources," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 419-462, September.
    2. Smith, Vernon L., 1977. "Control theory applied to natural and environmental resources an exposition," Journal of Environmental Economics and Management, Elsevier, vol. 4(1), pages 1-24, March.
    3. Fischer, Ronald D. & Mirman, Leonard J., 1996. "The Compleat Fish Wars: Biological and Dynamic Interactions," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 34-42, January.
    4. Hartman, Richard, 1976. "The Harvesting Decision When a Standing Forest Has Value," Economic Inquiry, Western Economic Association International, vol. 14(1), pages 52-58, March.
    5. Berck, Peter, 1981. "Optimal management of renewable resources with growing demand and stock externalities," Journal of Environmental Economics and Management, Elsevier, vol. 8(2), pages 105-117, June.
    6. Fischer, Ronald D. & Mirman, Leonard J., 1992. "Strategic dynamic interaction : Fish wars," Journal of Economic Dynamics and Control, Elsevier, vol. 16(2), pages 267-287, April.
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    Cited by:

    1. Nicolas Querou & Agnès Tomini, 2014. "Ecosystem considerations in a second-best world," Post-Print hal-01123390, HAL.
    2. Pongkijvorasin, Sittidaj & Roumasset, James & Duarte, Thomas Kaeo & Burnett, Kimberly, 2010. "Renewable resource management with stock externalities: Coastal aquifers and submarine groundwater discharge," Resource and Energy Economics, Elsevier, vol. 32(3), pages 277-291, August.
    3. N. Quérou & A. Tomini, 2018. "Marine Ecosystem Considerations and Second-Best Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(2), pages 381-401, June.

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