Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2019.106388 |
Insurance value of natural capital | |
Quaas, Martin1,2,3; Baumgaertner, Stefan4; De Lara, Michel5 | |
2019-11-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2019 |
卷号 | 165 |
文章类型 | Article |
语种 | 英语 |
国家 | Germany; France |
英文摘要 | Nature-based solutions to insurance are in high demand. We explore the idea that natural capital has an insurance value insofar as it can mitigate the effects of uncertainty on human well-being. We present a formal model that substantiates this claim. We propose a definition for the insurance value of natural capital for a stochastic and dynamic ecosystem that provides ecosystem services for a risk-averse user. The insurance value of natural capital depends on the properties of ecosystem dynamics as well as on the risk and time preferences of the ecosystem user. It can be positive or negative. We relate the natural insurance value to conservative use of the ecosystem and precautionary investment in the natural capital stock. For the case of logarithmic per-period utility we ford that optimal management becomes more conservative with increasing uncertainty if and only if the insurance value of natural capital is positive. We qualify this finding for more general forms of the per-period utility function. |
英文关键词 | Natural capital Natural insurance Risk aversion Prudence Precautionary investment Ecological-economic modeling |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000487172500010 |
WOS关键词 | TEMPORAL BEHAVIOR ; ASSET RETURNS ; RISK-AVERSION ; BIODIVERSITY ; MANAGEMENT ; SUBSTITUTION ; PRODUCTIVITY ; CONSUMPTION ; STRATEGIES ; DIVERSITY |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/187983 |
专题 | 资源环境科学 |
作者单位 | 1.Univ Kiel, Dept Econ, Kiel, Germany; 2.Univ Leipzig, Dept Econ, Leipzig, Germany; 3.Univ Leipzig, German Ctr Integrat Biodivers Res iDiv Halle Jena, Leipzig, Germany; 4.Univ Freiburg, Environm Econ & Resource Management, Freiburg, Germany; 5.Univ Paris Est, CERMICS, ENPC, Marne La Vallee, France |
推荐引用方式 GB/T 7714 | Quaas, Martin,Baumgaertner, Stefan,De Lara, Michel. Insurance value of natural capital[J]. ECOLOGICAL ECONOMICS,2019,165. |
APA | Quaas, Martin,Baumgaertner, Stefan,&De Lara, Michel.(2019).Insurance value of natural capital.ECOLOGICAL ECONOMICS,165. |
MLA | Quaas, Martin,et al."Insurance value of natural capital".ECOLOGICAL ECONOMICS 165(2019). |
条目包含的文件 | 条目无相关文件。 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论