This review provides a description of common and distinct characteristics of economic and ecological systems; examples of the ways in which these characteristics can be incorporated into models adequately describing the coevolution of the two-component systems to produce a unified ecological-economic system in time, space, and appropriate scale; and a discussion of policy design when the policy maker takes into account this coevolution, along with potential biases when the coevolution is ignored. We propose the development of integrated assessment models of the coevolving systems that will embody the variety of common and distinct characteristics identified in this survey. We expect that such an approach will provide useful insights into the efficient management of coevolving ecological-economic systems.
|Original language||English (US)|
|Number of pages||23|
|Journal||Annual Review of Resource Economics|
|State||Published - Oct 5 2021|
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
- Ecological-economic systems