{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture_11 - NR Econ Lecture 11 Today's topic Module IV...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
NR Econ Lecture 11 Today’s topic Module IV: Endangered Species Conservation B. Cost-Effectiveness Analysis (continued) -- Formulation 2 of the problem: “Biggest Bang for the Buck” -- Application: Economist’s perspective versus Biologist’s perspective
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Summary of Monday Cost-effectiveness analysis Economist’s perspective, the “least cost protection strategy” Contrast: politician’s perspective, the “uniform protection strategy” Cost-effectiveness frontier: extension of a cost-effectiveness analysis
Background image of page 2
Cost-Effectiveness Frontier Cost-effectiveness frontier (definition): the set of cost-effective strategies as a function of the number of species recovered; the curve that gives the least-cost solution to species recovery as the number of species recovered is varied. Thought experiment: Set the species constraint; solve for cost min Increase the constraint; solve for cost min Increase the constraint; solve for cost min Repeat; Repeat; etc etc.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Example Two counties, N bar = 4, N 1 * = 3, N 2 * = 1
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}