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An Interior Optimal Species Preservation Policy for the Two Types' Symbiotic Noah Ark

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  • Shamir, Shiri

Abstract

Weitzman’s (1998) seminal work applied the metaphor of Noah’s ark and the related libraries model to the problem of species preservation under budget constraints. In this paper we consider the symbiotic Noah's Ark problem with two types of species: a keystone species and a keystone-dependent species, which relies on the keystone species for survival. The central planner maximizes the expected biodiversity value under budget constraint and obtains the optimal preservation policy. One of Weitzman’s main conclusions was that under an appropriate independence assumption, an optimal policy yields an extreme outcome (almost all species either fully survive or die out). In contrast, we show that our symbiotic model with two types of species generates a unique interior optimal policy. Moreover, we find that under an interior optimal preservation policy, the expenditure on the keystone species' survival is greater than 50% of the given budget.

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  • Shamir, Shiri, 2011. "An Interior Optimal Species Preservation Policy for the Two Types' Symbiotic Noah Ark," Foerder Institute for Economic Research Working Papers 275757, Tel-Aviv University > Foerder Institute for Economic Research.
    • Handle: RePEc:ags:isfiwp:275757
    DOI: 10.22004/ag.econ.275757
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    References listed on IDEAS

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    1. Hans-Peter Weikard, 2002. "Diversity Functions and the Value of Biodiversity," Land Economics, University of Wisconsin Press, vol. 78(1), pages 20-27.
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    3. van der Heide, C. Martijn & van den Bergh, Jeroen C.J.M. & van Ierland, Ekko C., 2005. "Extending Weitzman's economic ranking of biodiversity protection: combining ecological and genetic considerations," Ecological Economics, Elsevier, vol. 55(2), pages 218-223, November.
    4. Elizabeth Marshall & Frances Homans & Robert Haight, 2000. "Exploring Strategies for Improving the Cost Effectiveness of Endangered Species Management: The Kirtland's Warbler as a Case Study," Land Economics, University of Wisconsin Press, vol. 76(3), pages 462-473.
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    6. Martin L. Weitzman, 1993. "What to Preserve? An Application of Diversity Theory to Crane Conservation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(1), pages 157-183.
    7. Martin L. Weitzman, 1998. "The Noah's Ark Problem," Econometrica, Econometric Society, vol. 66(6), pages 1279-1298, November.
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