An ecological economic assessment of risk reducing effects of species diversity in grassland production
| dc.creator | Finger, Robert | |
| dc.creator | Buchmann, Nina | |
| dc.date | 2017-04-01T19:40:20Z | |
| dc.date.accessioned | 2026-07-09T08:19:09Z | |
| dc.description | We investigate the relationship between yield stability and species diversity in managed grasslands. To this end, ecological economic and econometric frameworks are developed and applied to evaluate potential risk-reducing effects of species diversity from a farmer’s perspective. Our empirical analysis is based on a rich panel data set obtained from a diversity experiment covering in total 60 species and a period of 6 years. We find empirical evidence for the risk-reducing effect of species diversity and the economic assessment reveals significant insurance values associated with diversity for a risk averse decision maker. Thus, the economic value of diversity would be underestimated if not accounting for this property and species diversity serves as valuable ex-ante risk management strategy. | |
| dc.identifier | doi:10.22004/ag.econ.182681 | |
| dc.identifier | https://ageconsearch.umn.edu/record/182681/files/Finger-An_ecological_economic_assessment_of_risk_reducing_effects_of_species_diversity-529_a.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/182681 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/597836 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/182681 | |
| dc.title | An ecological economic assessment of risk reducing effects of species diversity in grassland production | |
| dc.type | Text |