Irreversibility and restoration in natural resource development

Irreversibility and Restoration in Natural Resource Development

We extend Real Option Theory to evaluate natural resource development projects that may bring negative net bene ts and require costly restoration. Based on a new concept, irreversibility cost, we show that the degree of irreversibility becomes an endogenous choice, rather than an exogenously given economic constraint. The xed cost of restoration has continuous impacts, over and above the widely...

irreversibility and natural resource allocation: applying krutilla - fisher model in zarinehrood basin water allocation

development projects in natural water resources like rivers and lakes, specially transferring water to use in agriculture, domestic and industrial sector without considering environmental values, causes irrecoverable and irreversible damage to ecosystem and future options. if we consider the future generation and species rights, those damages and costs can be very much than we take in. the abov...

Transformational Change in Environmental and Natural Resource Management

It is widely agreed the Anthropocene has seen an unprecedented decline in the natural resources conditions that have underpinned the economic growth of the last few hundred years. As communities, we have not responded to Boulding’s vision of ‘the coming space ship earth’ although not for want of much official and private effort. As ‘wicked problems’ the impacts have been often ignored or off lo...

Natural Nonrenewable Resource Development Information and Knowledge

Restoration of Natural Forest Ecosystems: The Genetic Resource

Restoration of many forest ecosystems will require replanting of native species. Choosing the proper seed source is essential to ensure long-term success of restoration plantings, especially if local seed sources are unavailable or genetically degraded. A successful restoration requires seed sources that are adapted to the climate and site, and are genetically diverse to allow subsequent reprod...