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https://doi.org/10.48548/pubdata-1222
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Field | Value |
---|---|
Resource type | Working Paper |
Title(s) | Natural vs. financial insurance in the management of public-good ecosystems |
DOI | 10.48548/pubdata-1222 |
Handle | 20.500.14123/1285 |
Creator | Quaas, Martin F. 0000-0003-0812-8829 Baumgärtner, Stefan 0000-0001-8314-8462 121846857 |
Abstract | In the face of uncertainty, ecosystems can provide natural insurance to risk averse users of ecosystem services. We employ a conceptual ecological-economic model to analyze the allocation of (endogenous) risk and ecosystem quality by risk averse ecosystem managers who have access to financial insurance, and study the implications for individually and socially optimal ecosystem management, and policy design. We show that while an improved access to financial insurance leads to lower ecosystem quality, the effect on the free-rider problem and on welfare is determined by ecosystem properties. We derive conditions on ecosystem functioning under which, if financial insurance becomes more accessible, (i) the extent of optimal regulation increases or decreases; and (ii) welfare, in the absence of environmental regulation, increases or decreases. |
Language | English |
Keywords | Ecosystem; Risk; Insurance; Ökosystem; Versicherung; Haftpflichtrisiko |
DDC | 330 :: Wirtschaft |
Year of publication in PubData | 2006 |
Publishing type | First publication |
Publication version | Published version |
Date issued | 2006-11-22 |
Creation context | Research |
Faculty / department | Fakultät Wirtschaftswissenschaften / Institut für Volkswirtschaftslehre (IVWL) |
Series title and number | Working paper series in economics 34 |
Alternative Idenfier(s) | urn:nbn:de:gbv:luen4-opus4-4455 |
Date of Availability | 2024-08-23T07:46:23Z |
Archiving Facility | Medien- und Informationszentrum (Leuphana Universität Lüneburg 02w2y2t16) |
Published by | Medien- und Informationszentrum, Leuphana Universität Lüneburg |
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wp_34_Upload.pdf License: Nutzung nach Urheberrecht open-access | 304.19 kB | Adobe PDF | View/Open |
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