Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127212
Authors: 
Faber, Malte
Frank, Karin
Klauer, Bernd
Manstetten, Reiner
Schiller, Johannes
Wissel, Christian
Year of Publication: 
2003
Series/Report no.: 
Discussion Paper Series, University of Heidelberg, Department of Economics 395
Abstract: 
This essay develops the "concept of stocks" – a conceptual notion designed to enable a clearer understanding of the interaction between the dynamics of ecosystems and the economy. The notion of stocks is formulated in a general manner based on set theory. The central attribute of a stock is its temporal durability. Seen thus, stocks are suitable for depicting the influences a system’s history has on its present – and hence for analysing temporal developments. Since permanency is a temporal attribute, the concept of stocks is not specifically limited to individual scientific disciplines and is suitable for interdisciplinary analysis. The notion is applied to economic and ecological examples and generalised for stochastic sets. The hierarchical structure of actual ecological-economic systems can be analysed by distinguishing the stock perspective from a system view. The theory of stocks is a building block for the conceptual foundations of ecological economics.
Subjects: 
Dynamics
permanency
system
time scales
population
persistence
JEL: 
A12
B40
Q20
Document Type: 
Working Paper

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