The economic insurance value of ecosystem resilience

Research output: Working paperWorking papers

Standard

The economic insurance value of ecosystem resilience. / Baumgärtner, Stefan; Strunz, Sebastian.
Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg, 2009. (Working paper series in economics; No. 132).

Research output: Working paperWorking papers

Harvard

Baumgärtner, S & Strunz, S 2009 'The economic insurance value of ecosystem resilience' Working paper series in economics, no. 132, Institut für Volkswirtschaftslehre der Universität Lüneburg, Lüneburg.

APA

Baumgärtner, S., & Strunz, S. (2009). The economic insurance value of ecosystem resilience. (Working paper series in economics; No. 132). Institut für Volkswirtschaftslehre der Universität Lüneburg.

Vancouver

Baumgärtner S, Strunz S. The economic insurance value of ecosystem resilience. Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg. 2009. (Working paper series in economics; 132).

Bibtex

@techreport{064809d2c3c7407e9bc35cbb35913d4a,
title = "The economic insurance value of ecosystem resilience",
abstract = "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.",
keywords = "Sustainability sciences, Management & Economics, ecosystem, economic value, insurance, resilience, risk, risk preferences, ecosystem, economic value, insurance, resilience, risk, risk preferences, Economics, ecosystem, economic value, insurance, resilience, risk, risk preferences",
author = "Stefan Baumg{\"a}rtner and Sebastian Strunz",
note = "Literaturverz. S. 29 - 33. - Parallel als Online-Ausg. erschienen unter der Adresse http://www.uni-lueneburg.de/fb2/vwl/papers/wp_132_Upload.pdf",
year = "2009",
language = "English",
series = "Working paper series in economics",
publisher = "Institut f{\"u}r Volkswirtschaftslehre der Universit{\"a}t L{\"u}neburg",
number = "132",
type = "WorkingPaper",
institution = "Institut f{\"u}r Volkswirtschaftslehre der Universit{\"a}t L{\"u}neburg",

}

RIS

TY - UNPB

T1 - The economic insurance value of ecosystem resilience

AU - Baumgärtner, Stefan

AU - Strunz, Sebastian

N1 - Literaturverz. S. 29 - 33. - Parallel als Online-Ausg. erschienen unter der Adresse http://www.uni-lueneburg.de/fb2/vwl/papers/wp_132_Upload.pdf

PY - 2009

Y1 - 2009

N2 - 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.

AB - 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.

KW - Sustainability sciences, Management & Economics

KW - ecosystem

KW - economic value

KW - insurance

KW - resilience

KW - risk

KW - risk preferences

KW - ecosystem

KW - economic value

KW - insurance

KW - resilience

KW - risk

KW - risk preferences

KW - Economics

KW - ecosystem

KW - economic value

KW - insurance

KW - resilience

KW - risk

KW - risk preferences

M3 - Working papers

T3 - Working paper series in economics

BT - The economic insurance value of ecosystem resilience

PB - Institut für Volkswirtschaftslehre der Universität Lüneburg

CY - Lüneburg

ER -

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