Seminars & webinars
18 November 2010

An Equilibrium Model of Habitat Conservation under Uncertainty and Irreversibility


Where: Milan
Location:

Fondazione Eni Enrico Mattei
Corso Magenta 63
20123 Milan

How to reach: Google map
Event's Timetable:


h. 12.00 Seminar
h. 13.00 Light Lunch

Information:

Seminars Office, seminars@feem.it

Speakers:

Sergio Vergalli, Fondazione Eni Enrico Mattei and University of Brescia

Abstract

In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when voluntary and mandatory measures are combined by the Government to induce adequate participation in a conservation plan. We analytically determine the impact of uncertainty and optimal policy conversion dynamics and discuss different policy scenarios on the basis of the relative long-run expected rate of deforestation. Finally, some numerical simulations are provided to illustrate our findings.

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This seminar has been jointly organized by FEEM and IEFE, Bocconi University.

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An Equilibrium Model of Habitat Conservation under Uncertainty and Irreversibility

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