Single-Species Versus Multiple-Species Models: The Economic Implications
Ecologists frequently note the importance of modelling entire ecosystems rather than individual species, but most bioeconomic models in the current literature focus on a single species. While the mathematical difficulty of modelling multiple species may be substantial, it is important to recognise the implications of the single-species assumption to a model’s results. In this paper, the authors address the economic significance of this assumption through the development of an analytical multiple-species model and demonstrate the importance of ecological interrelationships and economic values to the survival of endangered species.
Alexander, Robert R. and Fleming, Christopher, "Single-Species Versus Multiple-Species Models: The Economic Implications" (2003). Ecological Modelling 170(2-3): 203-211. Faculty Publications. Paper 7.