Harvesting in an integrated general equilibrium model |
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Authors: | Thomas Eichner Rüdiger Pethig |
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Institution: | (1) Department of Economics, University of Siegen, Hoelderlinstr. 3, 57068 Siegen, Germany |
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Abstract: | Harvesting of prey biomass is analyzed in an integrated ecological-economic system whose submodels, a predator–prey ecosystem
and a simple economy, are microfounded dynamic general equilibrium models. These submodels are interdependent because the
ecosystem responds to harvesting—through the reactions of optimizing individual organisms—by changing the provision of public
ecosystem services to consumers. General analytical results are derived regarding the impact of harvesting policies on short-run
equilibria of both submodels, on population dynamics, and on stationary states of the integrated model. A key insight is that
prey biomass carries a positive ecosystem price which needs to be added as a tax mark-up to the economic price of harvested biomass to attain allocative efficiency. Further information on the dynamics is gained by resorting to
numerical analysis of the policy regimes of zero harvesting, laissez-faire harvesting and efficient harvesting.
It “... is a matter of weighing costs and benefits of taking action, whether the action is the “inert” one of leaving resources
alone in order to conserve them, or whether it involves exploiting a resource ... for so-called material ends”.
Pearce (1976, p. 320)
Helpful comments from an anonymous referee are gratefully acknowledged. Remaining errors are the authors’ sole responsibility. |
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Keywords: | Predator Prey Biomass price Harvesting |
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