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2 results

  • 12 - Modelling Human Decisions

  • from Part III - Economic Modelling
  • Martin Drechsler
  • Book:
    Ecological-Economic Modelling for Biodiversity Conservation
    Published online:
    29 February 2020
    Print publication:
    26 March 2020, pp 158-180

  • Summary

    An important component in the analysis of policy instruments is the modelling of human behaviour. In the previous chapters, humans are (usually) considered as rational and perfectly informed profit-maximisers. This assumption is gradually relaxed in the present chapter. The first section addresses the issues of decreasing marginal utility, multiple objectives and time preference. The following section adds the problem of risk and uncertainty and presents a standard economic model for decision making under risk. The assumption of selfish profit maximisation is relaxed subsequently by introducing a model of fairness and inequity aversion. The following sections present approaches for modelling situations of imperfect information and limited cognitive abilities, as well as learning and behavioural change. The concluding section discusses and provides some linkages to Chapter 7 on individual-based models and provides some references from the literature on agent-based modelling.

  • Diversifying to Reduce Conservation Outcome Uncertainty in Multiple Environmental Objectives

  • Amy Ando, Aparna Howlader, Mindy Mallory
  • Journal:
    Agricultural and Resource Economics Review / Volume 47 / Issue 2 / August 2018
    Published online by Cambridge University Press:
    21 May 2018, pp. 220-238
    • Article
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  • In this paper we develop tools and intuition for portfolio optimization for multiple conservation objectives. We show it is more efficient to optimize a conservation portfolio for multiple goods jointly, allowing planners to exploit information about multiple dimensions of correlations between goods. We identified a new type of correlation that is important for optimal conservation planning of multiple objectives under uncertainty: scenario correlation between objectives in a given part of the landscape. The conservation planner faces a different kind of problem if the objectives at hand respond similarly rather than differently to climate shocks in subregions of the planning area.