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Managing Ecosystems in the Presence of Habitat Interactions and Market Imperfections in a Dynamic Setting

Timothy O. Randhir

Abstract



Managing local commons like wildlife ecosystems is becoming complex because of increasing pressure from anthropogenic uses and markets. The interaction between wildlife and their habitat poses interesting challenges for policy design in the presence of imperfect markets. Development of alternate institutional mechanisms to alter user behavior is required to manage these wildlife ecosystems. This paper uses a welfare analytical approach to develop alternative institutional solutions to manage wildlife ecosystems. The social and private problems are evaluated using a dynamic framework to identify deviation from optimal behavior for consumptive and recreational users of the wildlife ecosystems. Both habitat and wildlife stocks are considered in the
analysis. It was observed that overexploitation and anthropogenic disruptions could be accounted to lack of incentives to comply with social requirements. It was observed that a prolonged existence of private outcomes that are not corrected could lead to cumulative deterioration of wildlife and their habitat. Alternate mechanisms (transferable quotas, conservation subsidies, and cooperative methods) are discussed for providing appropriate incentives to wildlife conservation. Practical implications of these institutional mechanisms are evaluated for various resource conditions.

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