On the Extinction of Species in Jointly Determined Stochastic Systems
11 Pages Posted: 24 Mar 1999
The sizeable literature on extinction in economics has paid scant attention to the problem of constructing measures of species extinction. Moreover, this literature has not studied the question of species extinction in stochastic systems that are jointly determined. Consequently, the objective of this paper is to use probability theory to construct a measure of species extinction in jointly determined ecological-economic systems.
JEL Classification: Q20, C44
Suggested Citation: Suggested Citation