2019 World Conference on Natural Resource Modelling
HEC Montréal, Canada, 22 — 24 mai 2019
2019 World Conference on Natural Resource Modelling
HEC Montréal, Canada, 22 — 24 mai 2019
Methodology 1
23 mai 2019 14h00 – 16h00
Salle: Banque CIBC
Présidée par Michel De Lara
3 présentations
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14h00 - 14h30
Optimal harvesting of a regime-switching stochastic growing renewable resource: a utility theory approach
In this paper, following Smith (1978) and Ludwig (1979), we examine the optimal rate of extraction from a stochastically regime-switching growing resource stock (typically to maximize the expected flow of utility from net revenue). Assuming a continuous-time stochastic regime switching for the biomass Gilpin-Ayala growth function, and CRRA utility function for firms preferences, we find the optimal extraction rate that maximizes the expected integral of the utility function of net revenue of firms.
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14h30 - 15h00
Probability of misidentifying population declines and recoveries using linear models
Accurately estimating trends in population abundance is critical for developing ecological theory, performing environmental assessments, and advising natural resource management. While the error and power of statistical methods for detecting population declines and recoveries are well studied, they rarely consider the issue of density dependence. If population size time series data occurs in an area where the species is abundant, density dependence may cause the over-prediction of a population decline. In this paper, we provide simple analytic formulae for the probability of misestimating population growth rates above or below a specified threshold. We then use the formulae in two applied contexts (1) the probability of falsely predicting a threatened species is declining or recovering and (2) the use of linear population models for predicting species occurrence. In the latter case, we derive simple rules of thumb for the critical population abundance, in relation to carrying capacity, after which density dependence interferes with accurate predictions of persistence. The critical abundance can be used as a guideline for when it may be appropriate to use linear population process models to predict species occurrence in a density-dependent world.
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15h00 - 15h30
Risk measures for natural resources management strategy assessment
Strategy assessment is part of natural resources management.
Uncertainty is ever present, as ecosystem functioning is often poorly
understood and modelized, often depends upon variable environmental conditions,
and as a time spans can extend over decades.
We propose to introduce risk measures, originally designed for mathematical
finance, in strategy assessment for natural resources management.In a first part, we set the mathematical framework for natural resources
management, and outline the traditional methods of strategy assessment in this
framework. Then, we introduce a novel approach based on risk measures. The
second part is a case study of selective fishery of Baltic cod (Gadus morhua).
We compare the strategies evaluated as "sustainable" according to the novel
approach and to the traditional approaches, with numerical simulations.
In the third part, we open perspectives and propose theoretical issues left to
explore.