An application of Mean Escape Time and metapopulation on forestry catastrophe insurance

Jiangcheng Li, Chunmin Zhang, Jifa Liu, Zhen Li and Xuan Yang

Physica A: Statistical Mechanics and its Applications, 2018, vol. 495, issue C, 312-323

Abstract: A forestry catastrophe insurance model due to forestry pest infestations and disease epidemics is developed by employing metapopulation dynamics and statistics properties of Mean Escape Time (MET). The probability of outbreak of forestry catastrophe loss and the catastrophe loss payment time with MET are respectively investigated. Forestry loss data in China is used for model simulation. Experimental results are concluded as: (1) The model with analytical results is shown to be a better fit; (2) Within the condition of big area of patches and structure of patches, high system factor, low extinction rate, high multiplicative noises, and additive noises with a high cross-correlated strength range, an outbreak of forestry catastrophe loss or catastrophe loss payment due to forestry pest infestations and disease epidemics could occur; (3) An optimal catastrophe loss payment time MET due to forestry pest infestations and disease epidemics can be identified by taking proper value of multiplicative noises and limits the additive noises on a low range of value, and cross-correlated strength at a high range of value.

Keywords: Metapopulation; Forestry catastrophe insurance; Mean Escape Time; Forestry pest infestations and disease epidemics (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378437117313468
Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:495:y:2018:i:c:p:312-323

DOI: 10.1016/j.physa.2017.12.097

Access Statistics for this article

Physica A: Statistical Mechanics and its Applications is currently edited by K. A. Dawson, J. O. Indekeu, H.E. Stanley and C. Tsallis

More articles in Physica A: Statistical Mechanics and its Applications from Elsevier
Bibliographic data for series maintained by Catherine Liu ().