In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and wildlife species compete for land and prey biomass. We introduce a competitive allocation mechanism in both submodels such that economic prices and ecosystem prices guide the allocation in the economy...

In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and wildlife species compete for land and prey biomass. We introduce a competitive allocation mechanism in both submodels such that economic prices and ecosystem prices guide the allocation in the economy...

The concept of ecosystems services has become an important model for linking the functioning of ecosystems to human welfare benefits. Understanding this link is critical in decision-making contexts. While there have been several attempts to come up with a classification scheme for ecosystem...