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Biodiversity and Optimal Multi-species Ecosystem Management

Author

Listed:
  • Christine Bertram

    (Kiel Institute for the World Economy)

  • Martin F. Quaas

    (Kiel University)

Abstract

We analyze optimal multi-species management in a dynamic bio-economic model taking into account both harvesting profit and biodiversity value. Within an analytical model, we show that extinction is never optimal when a global biodiversity value is taken into account. Moreover, a stronger preference for species diversity leads to a more even distribution of stock sizes in the optimal steady state, and a higher value of biodiversity increases steady state stock sizes for all species when species are ecologically independent or symbiotic. For a predator–prey ecosystem, the effects may be positive or negative depending on relative prices and the strength of species interaction. The analytical results are illustrated and extended using an age-structured three-species predator–prey model for the Baltic cod, sprat, and herring fisheries. In this quantitative application, we find that using stock biomass or stock numbers as abundance indicators in the biodiversity index may lead to opposite results.

Suggested Citation

  • Christine Bertram & Martin F. Quaas, 2017. "Biodiversity and Optimal Multi-species Ecosystem Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(2), pages 321-350, June.
    • Handle: RePEc:kap:enreec:v:67:y:2017:i:2:d:10.1007_s10640-015-9988-8
    DOI: 10.1007/s10640-015-9988-8
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    Cited by:

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    2. Yue Tan & Sunny L. Jardine, 2019. "Considering Economic Efficiency in Ecosystem-Based Management: The Case of Horseshoe Crabs in Delaware Bay," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(2), pages 511-538, February.
    3. Anne Borge Johannesen & Jon Olaf Olaussen & Anders Skonhoft, 2019. "Livestock and Carnivores: Economic and Ecological Interactions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 295-317, September.
    4. David J Lewis & Steven J Dundas & David M Kling & Daniel K Lew & Sally D Hacker, 2019. "The non-market benefits of early and partial gains in managing threatened salmon," PLOS ONE, Public Library of Science, vol. 14(8), pages 1-15, August.

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    More about this item

    Keywords

    Biodiversity; Ecosystem management; Fishery; Ecological-economic modeling; Marine resources; Baltic sea;
    All these keywords.

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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