Diversifying to Reduce Conservation Outcome Uncertainty in Multiple Environmental Objectives

Amy Ando, Aparna Howlader and Mindy Mallory ()

Agricultural and Resource Economics Review, 2018, vol. 47, issue 2, 220-238

Abstract: In this paper we develop tools and intuition for portfolio optimization for multiple conservation objectives. We show it is more efficient to optimize a conservation portfolio for multiple goods jointly, allowing planners to exploit information about multiple dimensions of correlations between goods. We identified a new type of correlation that is important for optimal conservation planning of multiple objectives under uncertainty: scenario correlation between objectives in a given part of the landscape. The conservation planner faces a different kind of problem if the objectives at hand respond similarly rather than differently to climate shocks in subregions of the planning area.

Date: 2018
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