On the coevolution of economic and ecological systems

Simon Levin, Anastasios Xepapadeas

Research output: Contribution to journalReview articlepeer-review

4 Scopus citations

Abstract

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 languageEnglish (US)
Pages (from-to)355-377
Number of pages23
JournalAnnual Review of Resource Economics
Volume13
DOIs
StatePublished - Oct 5 2021

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Keywords

  • Coevolution
  • Ecological-economic systems
  • Heterogeneity
  • Scale
  • Space
  • Uncertainty

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