Land trade, transaction costs, and the optimal configuration of nature conservation
نویسندگان
چکیده
Nature conservation competes with alternative land uses. Therefore, ecologists and economists have for long analysed the optimal spatial configuration of reserve sites. One of these debates is concerned with the optimal size and number of individual reserve sites. This 1 The authors acknowledge Ekko van Ierland and Hans-Peter Weikard for useful comments on this paper. 2 This project is carried out with financial support from the Netherlands Organization for Scientific Research (NWO).
منابع مشابه
Legal Analysis of bank in the Iranian commercial market based on the theory of transaction costs
Understanding the necessity of establishing a bank in Iran requires a correct realizing of the mechanism of the money market in an era in which banks had no place or position. At that time distrusting on the borrower credits, lack of reliable information about the number and place of lenders, rising interest rates and the prevalence of high- interest borrowing were some of the costs that transa...
متن کاملOptimal Rebalancing of Portfolios with Transaction Costs
Rebalancing of portfolios with a concave utility function is considered. It is proved that transaction costs imply that there is a no-trade region where it is optimal not to trade. For proportional transaction costs it is optimal to rebalance to the boundary when outside the no-trade region. With flat transaction costs, the rebalance from outside the no-trade region should be to an internal sta...
متن کاملIntegrating Land Market Feedbacks into Conservation Planning—A Mathematical Programming Approach
Nature reserves are often designated ad hoc. Despite increasing conservation efforts, loss of biodiversity is still accelerating. Considering land scarcity and demand for alternative uses, efficiency in conservation strongly correlates with efficiency in land allocation. Systematic conservation planning can effectively prioritize conservation activities. Previous studies minimize opportunity co...
متن کاملReliable Designing of Capacitated Logistics Network with Multi Configuration Structure under Disruptions: A Hybrid Heuristic Based Sample Average Approximation Algorithm
We consider the reliable multi configuration capacitated logistics network design problem (RMCLNDP) with system disruptions, concerned with facilities locating, transportation links constructing, and also allocating their limited capacities to the customers in order to satisfy their demands with a minimum expected total cost (including locating costs, link constructing costs, as well as expecte...
متن کاملOptimal Consumption and Investment with Transaction Costs and Multiple Risky Assets
We consider the optimal intertemporal consumption and investment policy of a constant absolute risk aversion (CARA) investor who faces fixed and proportional transaction costs when trading multiple risky assets. We show that when asset returns are uncorrelated, the optimal investment policy is to keep the dollar amount invested in each risky asset between two constant levels and upon reaching e...
متن کامل