LAND DEVELOPMENT AND WILDERNESS CONSERVATION POLICIES UNDER UNCERTAINTY: A SYNTHESIS
1990; Wiley; Volume: 4; Issue: 1 Linguagem: Inglês
10.1111/j.1939-7445.1990.tb00130.x
ISSN1939-7445
AutoresHarry Clarke, William J. Reed,
Tópico(s)Environmental Impact and Sustainability
ResumoThe effects of uncertainty and irreversibility on land management are examined in an infinite horizon Arrow‐Fisher‐Henry conservation model with non‐linear land‐use welfare function which accounts for the possible role of breakthrough benefits stemming from the genetic resources of wilderness. The effects of uncertainty on optimality and certainty‐equivalent development strategies are examined. Crucially, “jump” decision rules are shown to be generally non‐optimal for managing wilderness areas.
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