Uncertainty, Irreversibility and the Optimal Timing of Large-Scale Investments in Protected Species Habitat Restoration
We present a model of the optimal timing of a large-scale habitat restoration project. The model is a dynamic benefit optimization that includes ecosystem costs caused by the presence of a large dam. We use a single stochastic variable to incorporate two sources of uncertainty: uncertainty about h...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Frontiers Media S.A.
2015-11-01
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| Series: | Frontiers in Marine Science |
| Subjects: | |
| Online Access: | http://journal.frontiersin.org/Journal/10.3389/fmars.2015.00101/full |