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Single Species Versus Multiple Species Models: The Economic Implications

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  • Fleming, Christopher M.
  • Alexander, Robert R.

Abstract

Ecologists frequently note the importance of modelling entire ecosystems rather than single species, but most bioeconomic models in the current literature focus on a single species. While the mathematical difficulty of multiple species may quickly become overwhelming, sometimes making the single species option necessary, it is important to recognise the significance of the single species assumption to the model results. In this paper, the authors address the economic significance of this assumption through the development of a multiple species model and demonstrate the importance of interrelationships and economic values to the survival of endangered species.

Suggested Citation

  • Fleming, Christopher M. & Alexander, Robert R., 2002. "Single Species Versus Multiple Species Models: The Economic Implications," Discussion Papers in Natural Resource and Environmental Economics 23693, Massey University, Centre for Applied Economics and Policy Studies.
    • Handle: RePEc:ags:masdpn:23693
    DOI: 10.22004/ag.econ.23693
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    References listed on IDEAS

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    Cited by:

    1. Stahn, Hubert & Tomini, Agnès, 2017. "On conjunctive management of groundwater and rainwater," Resource and Energy Economics, Elsevier, vol. 49(C), pages 186-200.
    2. 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.
    3. Katarina Elofsson & Ing-Marie Gren, 2015. "Regulating invasive species with different life history," Journal of Bioeconomics, Springer, vol. 17(2), pages 113-136, July.
    4. Poudel, Diwakar & Sandal, Leif K., 2014. "Stochastic Optimization for Multispecies Fisheries in the Barents Sea," Discussion Papers 2014/2, Norwegian School of Economics, Department of Business and Management Science.
    5. Giovanni Bella, 2007. "A Bug’s Life: Competition Among Species Towards the Environment," Working Papers 2007.18, Fondazione Eni Enrico Mattei.
    6. Nicolas Querou & Agnès Tomini, 2014. "Ecosystem considerations in a second-best world," Post-Print hal-01123390, HAL.
    7. Ni, Yuanming & Sandal, Leif K. & Kvamsdal, Sturla F. & Poudel, Diwakar, 2019. "Greed is good: from super-harvest to recovery in a stochastic predator-prey system," Discussion Papers 2019/5, Norwegian School of Economics, Department of Business and Management Science.
    8. Poudel, Diwakar & Sandal, Leif K. & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2012. "Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?," Discussion Papers 2012/1, Norwegian School of Economics, Department of Business and Management Science.

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