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dc.rights.licenseopenen_US
hal.structure.identifierGroupe de Recherche en Economie Théorique et Appliquée [GREThA]
dc.contributor.authorAUGERAUD-VÉRON, Emmanuelle
dc.contributor.authorFABBRI, Giorgio
dc.contributor.authorSCHUBERT, Katheline
dc.date.accessioned2022-02-16T16:37:29Z
dc.date.available2022-02-16T16:37:29Z
dc.date.issued2021
dc.identifier.issn0921-8009en_US
dc.identifier.urioai:crossref.org:10.1016/j.ecolecon.2021.107193
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/124753
dc.description.abstractEnHow can decentralized individual decisions inefficiently reduce the ability of biodiversity to mitigate ecological and environmental variability and then its “natural insurance” role? In this article we present a simple theoretical set-up to address this question and to evaluate some policy options. We study a model of strategic competition among farmers for the conversion of a natural forest to agricultural land. Unconverted forest land allows to conserve biodiversity, which contributes to reducing the volatility of agricultural production. Agents' utility is given in terms of a Kreps Porteus stochastic differential utility capable of disentangling risk aversion and aversion to fluctuations. We characterize the land used by each farmer and her welfare at the Nash equilibrium, we evaluate the over-exploitation of the land and the agents' welfare loss compared to the socially optimal solution and we study the drivers of the inefficiencies of the decentralized equilibrium. After characterizing the value of biodiversity in the model, we use it to obtain a decomposition which helps to study the policy implications of the model by identifying in which cases the allocation of property rights is preferable to the introduction of a tax on land conversion. Our results suggest that enforcing property rights is more relevant in case of stagnant economies while taxing land conversion may be more suited for rapidly developing economies.
dc.language.isoENen_US
dc.sourcecrossref
dc.subject.enBiodiversity
dc.subject.enInsurance value
dc.subject.enLand conversion
dc.subject.enRecursive preferences
dc.subject.enStochastic differential games
dc.title.enVolatility-reducing biodiversity conservation under strategic interactions
dc.typeArticle de revueen_US
dc.identifier.doi10.1016/j.ecolecon.2021.107193en_US
dc.subject.halÉconomie et finance quantitative [q-fin]en_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q5 - Environmental Economics::Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growthen_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q5 - Environmental Economics::Q58 - Government Policyen_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q1 - Agriculture::Q10 - Generalen_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q1 - Agriculture::Q15 - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environmenten_US
dc.subject.jelO - Economic Development, Innovation, Technological Change, and Growth::O1 - Economic Development::O13 - Agriculture; Natural Resources; Energy; Environment; Other Primary Productsen_US
dc.subject.jelO - Economic Development, Innovation, Technological Change, and Growth::O2 - Development Planning and Policy::O20 - Generalen_US
dc.subject.jelC - Mathematical and Quantitative Methods::C7 - Game Theory and Bargaining Theory::C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Gamesen_US
dc.subject.jelD - Microeconomics::D6 - Welfare Economics::D62 - Externalitiesen_US
bordeaux.journalEcological Economicsen_US
bordeaux.page107193en_US
bordeaux.volume190en_US
bordeaux.hal.laboratoriesGroupe de Recherche en Economie Théorique et Appliquée (GREThA) - UMR 5113en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRSen_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
bordeaux.import.sourcedissemin
hal.identifierhal-03369958
hal.version1
hal.exporttrue
workflow.import.sourcedissemin
dc.rights.ccPas de Licence CCen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Ecological%20Economics&rft.date=2021&rft.volume=190&rft.spage=107193&rft.epage=107193&rft.eissn=0921-8009&rft.issn=0921-8009&rft.au=AUGERAUD-V%C3%89RON,%20Emmanuelle&FABBRI,%20Giorgio&SCHUBERT,%20Katheline&rft.genre=article


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