Integrating economic values and catchment modelling

Integrated catchment policies are widely used to manage natural resources in Australian catchments. Decision support tools available to aid integrated catchment management are often limited in their integration of environmental processes with socio-economic systems. Fully integrated models are required to support assessments of the environmental and economic trade-offs of catchment management changes. A Bayesian Network (BN) model is demonstrated to provide a suitable approach to integrate environmental modelling with economic valuation. The model incorporates hydrological, ecological and economic models for the George catchment in Tasmania. Information about the non-market costs and benefits of environmental changes is elicited using Choice Experiments, allowing an assessment of the efficiency of alternative management scenarios.Integrated catchment modelling, Bayesian networks, Uncertainty, Environmental values, Non-market valuation, Choice Modelling.,

Economic Values of Saginaw Bay Coastal Marshes

We estimate the economic values of Saginaw Bay coastal marshes with multiple methods. First we estimate the value of coastal marsh recreation with two variations of the travel cost method: the single-site recreation demand model and the recreation site selection or random utility model. Using the single site model the current level of day trip recreation in the Saginaw Bay coastal marsh area is valued at almost $16 million each year. The present value is$239 million. Using the site selection travel cost model, an increase in 1125 acres of coastal marsh is valued at about $94,000 annually. The present value is$1.83 million. Willingness to pay for recreation and other values of coastal marsh protection is estimated using the contingent valuation method. The annual value of protection of 1125 acres of coastal marsh is $113,000. The present value is$2.2 million.

Economic values for milk production and quality traits of Guzerá cattle in Brazil.

Evento virtual

High Economic Values from High Peaks of the West

Resource /Energy Economics and Policy,

Deriving economic values for national sheep breeding objectives using a bio-economic model

peer-reviewedThe economic value of a trait in a breeding objective can be defined as the value of a unit change in an individual trait, while keeping all other traits constant and are widely used in the development of breeding objectives internationally. The objective of this study was to provide a description of the development of economic values for the pertinent traits included in the Irish national sheep breeding objectives using a whole farm system bio-economic model. A total of fourteen traits of economic importance representing maternal, lambing, production and health characteristics were calculated within a whole farm bio-economic model. The model was parameterised to represent an average Irish flock of 107 ewes with a mean lambing date in early March, stocked at 7.5 ewes per hectare and weaning 1.5 lambs per ewe joined to the ram. The economic values (units in parenthesis) calculated for maternal traits were: €39.76 for number of lambs born (per lamb), €0.12 for ewe mature weight cull value (per kg), −€0.57 for ewe mature weight maintenance value (per kg), −€0.09 for ewe mature weight replacement value (per kg) and −€0.84 for ewe replacement rate (per%). The economic values calculated for lambing traits were: €54.84 for lamb surviving at birth (per lamb), −€0.27 and −€0.30 for direct lambing difficulty in single and multiple-bearing ewes, respectively (per%); the corresponding values for maternal single and multiple lambing difficulty (per%) were −€0.25 and −€0.27, respectively. The calculated economic values for production traits were: −€0.25 for days to slaughter (per day), €3.70 for carcass Conformation (per EUROP grade) and −€0.84 for carcass fat (per fat score). The economic values for health traits were: −€0.24 for ewe lameness (per%), −€0.08 for lamb lameness (per%), −€0.25 for mastitis (per%), −€0.34 for dag score (per dag score) and −€0.08 for faecal egg count (per 50 eggs/g). Within the two Irish breeding objectives, the terminal and replacement breeding objective, the greatest emphasis was placed on production traits across both the terminal (62.56%) and replacement (41.65%) breeding objectives. The maternal and lambing traits accounted for the 34.19% and 23.45% of the emphasis within the replacement breeding objective, respectively. Results from this study will enable the implementation of new economic values within the national terminal and replacement Irish sheep breeding objectives which highlights the traits of importance for increasing overall farm profitability

Valuing biodiversity and ecosystem services: why linking economic values with Nature?

The evaluation of ecosystems and biodiversity has become an important field of inquiry for economists. Although this development has been largely motivated by the search for arguments in favour of more ambitious conservation policies, both the methods and the meaning of the results continue to be controversial. This article aims to clarify the interests and limitations of this works, by revisiting a number of issues, such as the economic qualification of the services that human societies take from nature, the specificities of their contribution to human well-being, or the consequences of a valuation of biodiversity based on ecosystem services. We conclude with a discussion of the purposes of evaluations: improving public policies or creating new markets?

Design economic values in jewellery perception

‘Designomics’, a new terminology is derived from the two words, ‘design’ and ‘economics’. The value of a particular design is determined by the theories of economy in this influence. This research bares the objectives of developing guidelines and criteria for designers to adapt the concept of designomics in the jewellery industry. The aim of this study is to inspire design skills towards enhancing entrepreneurial leadership. In addition, the researcher will develop a method to ensure the attainment of the Designomic’s investigation. The designers will be able to contribute their value within the business sector. With a more extensive understanding of the theory, we can address the economic contribution of the design for business managers to understand

ESTIMATING THE ECONOMIC VALUES ASSOCIATED WITH EPDS FOR ANGUS BULLS AT AUCTION

The genetic traits that an Angus bull possesses convey the reproductive and economic value of the animal to potential buyers. This paper examines and draws comparisons between the value of actual production weights and production EPDs, while also establishing values for ultrasound EPDs. Results indicate that only one EPD, birth weight, was valued by buyers more than its corresponding actual weight, though actual weights and EPDs significantly impacted price. Ultrasound EPDs were also found to be significant, suggesting buyers of Angus bulls consider carcass information when purchasing bulls.Angus Bulls, Birth Weight, Carcass, EPDs, Hedonic Model, Livestock Production/Industries,