Valuing the Impact of Large-Scale Ecological Change in a Market: The Effect of Climate Change
建立了一种评估大规模生态变化对市场影响的方法，并以气候变化对美国木材市场的影响为例，预测变暖将扩大木材供应并带来市场收益。
This paper establishes a methodology for valuing the impact of large-scale ecological changes in a market. Given the large capital stocks inherent in most ecological systems, the dynamic nature of most ecological change, and the dynamic response of markets, it is critical to build dynamic models to capture the resulting effects. This paper demonstrates how to construct such a model using the impacts of climate change on U.S. timber markets as an example. Across a wide range of scenarios and models, warming is predicted to expand timber supplies and thus benefit U.S. timber markets. Copyright 1998 by American Economic Association.