Probability distortions for constructing nonlinear G-expectations for the bid and ask or lower and upper prices in continuous time are here extended to the direct use of measure distortions. Fairly generally measure distortions can be constructed as probability distortions applied to an exponential distribution function on the half line. The valuation methodologies are extended beyond contract ...

For many kinds of assets, the growth rate of the real asset stock is a nonlinear function of the economic owner’s decision whether to invest or extract the asset. Examples within the economy are primarily biological assets, both privately owned (such as those found in aquaculature and agriculture) and publicly owned or regulated (such as fish stocks, and in some case, timber stocks.) Optimal ex...

The ecosystem service concept is becoming more and more acknowledged in science and decision-making. Taking an economic valuation approach, we quantified the economic value change of ecosystem services for different land use types in the middle basin of Heihe River, Northwest China. Eight ecosystem services indicators were selected: raw materials production, crop production, gas regulation, hyd...

in future, soil erosion will be a great challenge for biosphere. if the soils today are notprotected carefully hunger crises all over the world will be widespread. the present article endeavorsto survey soil erosion process and approaches to prevent it. furthermore the article tries to review therelation between soil character and soil production capability shedding light on the effect of erosi...

PURPOSE: This technical note provides a procedural framework for evaluating the economic values of wetlands. Important economic concepts on supply/demand and valuation are presented as they relate to the economic valuea supported or provided by wetlands. The framework presented here can be used to evaluate economic values within the Section 404 process, while recognizhg the difficulties of wetl...