Capital Asset Pricing for Nature
Description
Implements approximation methods for natural capital asset prices suggested by Fenichel and Abbott (2014) in Journal of the Associations of Environmental and Resource Economists (JAERE), Fenichel et al. (2016) in Proceedings of the National Academy of Sciences (PNAS), and Yun et al. (2017) in PNAS (accepted), and their extensions: creating Chebyshev polynomial nodes and grids, calculating basis of Chebyshev polynomials, approximation and their simulations for: V-approximation (single and multiple stocks, PNAS), P-approximation (single stock, PNAS), and Pdot-approximation (single stock, JAERE). Development of this package was generously supported by the Knobloch Family Foundation.