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Resource Economics (resource + economics)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Minimum-data analysis of ecosystem service supply in semi-subsistence agricultural systems

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 4 2010
John M. Antle
Antle and Valdivia (2006, Australian Journal of Agricultural and Resource Economics 50, 1,15) proposed a minimum-data (MD) approach to simulate ecosystem service supply curves that can be implemented using readily available secondary data and validated the approach in a case study of soil carbon sequestration in a monoculture wheat system. However, many applications of the MD approach are in developing countries where semi-subsistence systems with multiple production activities are being used and data availability is limited. This paper discusses how MD analysis can be applied to more complex production systems such as semi-subsistence systems with multiple production activities and presents validation analysis for studies of soil carbon sequestration in semi-subsistence farming systems in Kenya and Senegal. Results from these two studies confirm that ecosystem service supply curves based on the MD approach are close approximations to the curves derived from highly detailed data and models and are therefore sufficiently accurate and robust to be used to support policy decision making. [source]

Stochastic efficiency analysis with risk aversion bounds: a correction

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 4 2009
Jack Meyer
A recent paper by Hardaker et al. (The Australian Journal of Agricultural and Resource Economics, 48, 2004a, 253) and book by Hardaker et al. (Coping with Risk in Agriculture, 2004b) describe a procedure for determining an efficient set from among a set of random alternatives. This procedure, called stochastic efficiency with respect to a function (SERF), is claimed to make the same assumption concerning the risk aversion measures as does stochastic dominance with respect to a function (SDRF). This is claim is incorrect. SERF imposes an additional requirement on the risk aversion measures of the decision makers. Both procedures assume a lower and an upper bound on risk aversion, but SERF also assumes that all risk aversion measures are of the same functional form as these lower and upper bound functions. This additional strong requirement on risk preferences implies that the efficient set identified under SERF is usually smaller than that identified using SDRF. [source]

An Overview of Computational Modeling in Agricultural and Resource Economics

CANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 4 2009
James Nolan
First page of article [source]

Agricultural and resource economics and economic development in Aboriginal communities

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 3 2003
Ron Duncan
Economic development is seen as the best way for Aboriginal communities to improve their welfare and lessen the considerable disadvantages they suffer. Unfortunately, the economics profession has shown little interest in their plight. Agricultural and resource economists have much to offer in helping to foster economic development in Aboriginal communities throughout Australia. Suggestions are made as to various ways in which our particular interests and experiences can hopefully be applied. [source]

Evidence from panel unit root and cointegration tests that the Environmental Kuznets Curve does not exist

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 3 2003
Roger Perman
The Environmental Kuznets Curve (EKC) hypothesis , an inverted U-shape relation between various indicators of environmental degradation and income per capita , has become one of the ,stylised facts' of environmental and resource economics. This is despite considerable criticism on both theoretical and empirical grounds. Cointegration analysis can be used to test the validity of such stylised facts when the data involved contain stochastic trends. In the present paper, we use cointegration analysis to test the EKC hypothesis using a panel dataset of sulfur emissions and GDP data for 74 countries over a span of 31 years. We find that the data is stochastically trending in the time-series dimension. Given this, and interpreting the EKC as a long run equilibrium relationship, support for the hypothesis requires that an appropriate model cointegrates and that sulfur emissions are a concave function of income. Individual and panel cointegration tests cast doubt on the general applicability of the hypothesised relationship. Even when we find cointegration, many of the relationships for individual countries are not concave. The results show that the EKC is a problematic concept, at least in the case of sulfur emissions. [source]