param

The <code>GOM</code> provides data to replicate the Gulf of Mexico Reef Fish example in <a href="http://www.journals.uchicago.edu/doi/abs/10.1086/676034">Fenichel and Abbott (2014)</a>.

Implements approximation methods for natural capital asset prices suggested by Fenichel and Abbott (2014) <doi:10.1086/676034> in Journal of the Associations of Environmental and Resource Economists (JAERE), Fenichel et al. (2016) <doi:10.1073/pnas.1513779113> 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.

Seong Do Yun

capn

Capital Asset Pricing for Nature

Eli P. Fenichel

Joshua K. Abbott

param function

param: a data.frame of parameters<ul>
<li><code>r</code> intrinsic growth rate (=0.3847)</li>
<li><code>k</code> carrying capacity (=359016000)</li>
<li><code>q</code> catchability coefficient (=0.00031729344157311126)</li>
<li><code>price</code> price (=2.70)</li>
<li><code>cost</code> cost (=153.0)</li>
<li><code>alpha</code> technology parameter (=0.5436459179063678)</li>
<li><code>gamma</code> pre-ITQ management parameter (=0.7882)</li>
<li><code>y</code> system equivalence parameter (=0.15745573410462155)</li>
<li><code>delta</code> discount rate (=0.02)</li>
<li><code>order</code> Chebyshev polynomial order (=50)</li>
<li><code>upperK</code> upper bound of Chebyshev polynomial nodes (=k)</li>
<li><code>lowerK</code> lower bound of Chebyshev polynomial nodes (=5*10^6)</li>
<li><code>nodes</code> the number of Chebyshev polynomial nodes (=50)</li>
</ul>

Format

The <code>GOM</code> provides data to replicate the Gulf of Mexico Reef Fish example in <a href = 'http://www.journals.uchicago.edu/doi/abs/10.1086/676034'>Fenichel and Abbott (2014)</a>.

param: the parameter vector adopted in GOM dataset

Description

Usage

Arguments

Format

References

See Also