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FEEM Working Papers, Fondazione Eni Enrico Mattei >
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http://hdl.handle.net/10419/53198
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| Title: | | An equilibrium model of habitat conservation under uncertainty and irreversibility  |
| Authors: | | Di Corato, Luca Moretto, Michele Vergalli, Sergio |
| Issue Date: | | 2010 |
| Series/Report no.: | | Nota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development 160.2010 |
| Abstract: | | In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when voluntary and mandatory measures are combined by the Government to induce adequate participation in a conservation plan. We analytically determine the impact of uncertainty and optimal policy conversion dynamics and discuss different policy scenarios on the basis of the relative long-run expected rate of deforestation. Finally, some numerical simulations are provided to illustrate our findings. |
| Subjects: | | Optimal Stopping Deforestation Payments For Environmental Services Natural |
| JEL: | | C61 D81 Q24 Q58 |
| Document Type: | | Working Paper |
| Appears in Collections: | | FEEM Working Papers, Fondazione Eni Enrico Mattei
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