Eichner, Thomas; Tschirhart, John - In: Environmental & Resource Economics 37 (2007) 4, pp. 733-755
In an integrated economic/ecological model, the economy benefits from ecosystem services that include: (1) the …-state populations and humans choose from among these steady states. Welfare maximizing levels of the ecosystem services are derived …, then it is shown that in the laissez-faire economy overharvesting occurs when the harvesting industry ignores ecosystem …