The economic insurance value of ecosystem resilience

Publikation: Arbeits- oder Diskussionspapiere und BerichteArbeits- oder Diskussionspapiere

Authors

Ecosystem resilience, i.e. an ecosystem's ability to maintain its basic functions and controls under disturbances, is often interpreted as insurance: by decreasing the probability of future drops in the provision of ecosystem services, resilience insures risk-averse ecosystem users against potential welfare losses. Using a general and stringent definition of "insurance" and a simple ecological-economic model, we derive the economic insurance value of ecosystem resilience and study how it depends on ecosystem properties, economic context, and the ecosystem user's risk preferences. We show that (i) the insurance value of resilience is negative (positive) for low (high) levels of resilience, (ii) it increases with the level of resilience, and (iii) it is one additive component of the total economic value of resilience. -- Ecosystem ; economic value ; insurance ; resilience ; risk ; risk preferences
OriginalspracheEnglisch
ErscheinungsortLüneburg
VerlagInstitut für Volkswirtschaftslehre der Universität Lüneburg
Anzahl der Seiten33
PublikationsstatusErschienen - 2009

Bibliographische Notiz

Literaturverz. S. 29 - 33. - Parallel als Online-Ausg. erschienen unter der Adresse http://www.uni-lueneburg.de/fb2/vwl/papers/wp_132_Upload.pdf

Zugehörige Projekte

  • Nachhaltige Nutzung von Ökosystemdienstleistungen unter Unsicherheit. Ökologisch-ökonomische Modellierung und Evaluierung volkswirtschaftlicher Politikoptionen

    Projekt: Forschung

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