Using portfolio theory to assess tradeoffs between return from natural capital and social equity across space
Using portfolio theory to assess tradeoffs between return from natural capital and social equity across space
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DOI：
10.1016/j.biocon.2011.01.019
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发表时间：
2011-05-01
影响因子：
5.9
通讯作者：
Gaines, Steven D.
中科院分区：
文献类型：
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作者：
Halpern, Benjamin S.;White, Crow;Gaines, Steven D.
自然资源收益的空间差异受资源动态和监管的驱动，可能对向个人和社区公平提供价值产生重大影响。然而，资源管理模型隐含地对空间上的回报进行同等加权，即使空间明确地包含在模型动态和政策中。在这里，我们翻译金融投资组合理论从时间到空间领域，并用它来量化资源回报和社会公平之间的内在权衡，定义为一个更均匀的资源价值分布在空间上。我们说明了这种方法的海洋案例研究的海峡群岛，加州，美国。根据资源的空间分布，增加空间公平性需要非线性减少资源回报。现实的管理办法，如基于努力量的渔业条例或海洋保护区，分别增加或减少这种权衡。我们还量化了投资组合管理方法的两个关键优势：它们通过避免错误的期望来改善结果，并在保持资源回报或社会公平的同时增加资源回报或社会公平。(C)2011爱思唯尔有限公司保留所有权利。
Spatial variance in returns from natural resources, driven by resource dynamics and regulations, can have strong consequences for equitable delivery of value to individuals and communities. Yet resource management models implicitly weight returns equally across space, even when space is explicitly included in model dynamics and policy. Here we translate financial portfolio theory from the temporal to spatial realm and use it to quantify the inherent tradeoff between resource returns and social equity, defined as a more uniform distribution of resource value across space. We illustrate this approach with a marine case study of the Channel Islands, California, USA. Depending on the spatial distribution of resources, increasing spatial equity requires nonlinear reductions in resource returns. Realistic management options, such as effort-based fisheries regulations or marine protected areas, increase or reduce this tradeoff, respectively. We also quantify two critical advantages of portfolio approaches to management: they improve outcomes by avoiding false expectations and increase either resource return or social equity while maintaining the other. (C) 2011 Elsevier Ltd. All rights reserved.