Scandinavian Working Papers in Economics
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Department of Business and Management Science, Norwegian School of Economics (NHH) Discussion Papers, Department of Business and Management Science, Norwegian School of Economics (NHH)

No 2010/11:
A Market-Based Approach to Manage Endangered Species Interactions

Sturla Furunes Kvamsdal () and Stephen M. Stohs ()

Abstract: An economic activity interacts with an endangered species. The activity can be divided into mutually exclusive strata with different levels of interaction. Observing the activity in order to monitor interactions is costly. It may be desirable to manage the activity with a probability model which balances the benefit from the activity against the cost of the interaction with the endangered specie instead. The model gives rise to a permit scheme which fixates the risk of interaction over all strata and which uses the market mechanism to optimally allocate the activity between strata. The model can facilitate uncertainty in interaction rate estimates.

Keywords: Endangered species interactions; permit scheme; probability model; (follow links to similar papers)

JEL-Codes: Q50; (follow links to similar papers)

18 pages, September 10, 2010

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