Valuing Ecosystem Services Toward Better Environmental Decision-Making (2005) / Chapter Skim
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Appendix C: Production Function Models
Appendix C: Production Function Models
Pages 270-273
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From page 270... ...
The area of coastal wetlands S may therefore have a direct influence on the marketed fish catch h, which is independent from the standard inputs of a commercial fishery Ei...Ek. There are generally two approaches currently in the literature for valuing the welfare contribution of changes in the ecological service S, which are referred to as static and dynamic approaches (Barbier, 2000)
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From page 271... ...
, which is a function of the harvest h per unit cost w and the area of coastal wetlands that support the fishery S (i.e., E*
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From page 272... ...
represent landed fish price per unit harvested, w the unit cost of effort, and > 0 the adjustment coefficient, the fishing effort adjustment equation is p(h)
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From page 273... ...
. However, since coastal wetland habitat is an argument in the growth function of the fishery, the effect of an increase in wetland area will be to shift the long-run supply curve of the fishery downward and thus raise harvest levels.
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