Dynamic and Stochastic Resource Economics: Essays on Biodiversity, Invasive Species, Joint Systems, and Regulation is a collection of Professor Batabyal's previously published and unpublished papers on the subject of natural resource and environmental economics. The book demonstrates how new dynamic and probabilistic techniques can be profitably used to study a whole host of research questions in natural resource management, biological diversity, ecological economics, invasive species management, and environmental regulation. The book collects the results of frontier-level research in many different areas within the general field of natural resource and environmental economics. It also shows how theoretical modeling, frequently using techniques that are unfamiliar to economists, can be gainfully utilized to shed new light on a whole host of issues, some of which have not been modeled previously in a comprehensive manner. Finally, this book draws connections between the different areas that are covered so as to provide a common methodological approach to research questions and a unified perspective on the key issues in natural resource and environmental economics.
Introduction: Introduction to Dynamic and Stochastic Resource Economics: Essays on Biodiversity, Invasive Species, Joint Systems, and Regulation; Natural Resource Management: On Some Aspects of the Management of a Stochastically Developing Forest; On the Choice Between the Stocking Rate and Time in Range Management; Alternate Decision Rules, the Flexibility Premium, and Land Development Over Time and Under Uncertainty; Alternate Strategies for Managing Resistance to Antibiotics and Pesticides; Biological Diversity: An Optimal Stopping Approach to the Conservation of Biodiversity; Habitat Conversion, Information Acquisition, and the Conservation of Biodiversity; A Theoretical Analysis of Habitat Conversion and Biodiversity Conservation Over Time and Under Uncertainty; Ecological Economics: On the Optimal Management of a Class of Aquatic Ecological-Economic Systems; Necessary and Sufficient Conditions for the Equivalence of Economic and Ecological Criteria in Range Management; Aspects of the Management of Ecological-Economic Systems With a Safe Minimum Standard; Invasive Species Management: A Theoretical Analysis of Random Inspections and Fines in Invasive Species Management; Trade, the Damage from Alien Species, and the Effects of Protectionism Under Alternate Market Structures; An Analysis of Inspections When Economic Cost Reduction Matters More than Biological Invasion Damage Control; Environmental Regulation: Consistency and Optimality in a Dynamic Game of Pollution Control II: Monopoly; A Stochastic Model of Waste Management with On and Off Site Storage; The Impact of Innovation on a Polluting Firm's Regulation Driven Decision to Upgrade its Capital Stock.
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