1.

The relationships between the

economic system and natural
resources.

ST-Bio-Economy & Environmental

Sustainability

1
 Introduction
• Economics is defined as the science that studies the
management and the allocation of scarce resources.
Scarce resources that solve human needs.

• All kinds of resources: From time, for example, the

distribution of working hours, to any type of resource,
both natural and man-made.

• In the field of natural resources, the economy studies

how society manages and allocates this type of
resources.
2
 What is the Bio-economy?
• The bioeconomy seeks to integrate the disciplines of
economics and biology to explain facts with economic
significance.
• According to the EC definition, the bio-economy covers
all sectors and systems that depend on biological
resources (plants, microorganisms and derived biomass
such as organic waste, etc), their functions and
principles, and their related products and services.
• For example, includes all primary production sectors that
use and produce biological resources (forestry,
agriculture, livestock, fisheries and aquaculture).

3
 What is the Bio-economy?
• The bio-economy provides food, feed and ecosystem services
for which there is no substitute.
• They also include all economic and industrial sectors that use
biological resources and processes to produce food, feed,
biologics, energy and services.
• The bio-economy wants to help economically manage natural
resources, with the aim of avoiding the depletion of these
resources

We will focus on the management of natural resources.

4
 What is the Bio-economy?

• In this course we will address two important issues for

the bio-economy.

1) Sustainable management natural resources, and

2) The valuation of those resources and of the services

that they provide. Retribution of positive externalities
and ecosystem services.

5
 Non-renewable & renewable
• A non-renewable resource is a resource that does not
grow. It does not have a significant growth rate that
needs to be considered during a relevant planning period
(i.e., coal, oil). The growth rate of these resources can
be considered zero for a planning period relevant to
humanity's current interests.
• A renewable resource is a resource that has a
significant growth rate during a relevant planning
period. The growth rate must be considered for
managing the resource properly.
• Renewable resources are those that are capable of
regeneration.

6
 Renewable resources
• We can classify renewable resources as:

1. Renewable Flow Resources: Solar and thermal

energy (they are not exhausted when used).

2. Renewable Stock Resources: Forests, fisheries, are

regenerated following physical and chemical processes
but it is possible to deplete them. The capacity for
regeneration and growth depends on the amount of
resource, the stock. In this course we are going to
focus on stock resources, since it is in this type of
resources where scarcity can occur.

7
 Why does the economy play a role in the
management of renewable resources?
• Many of these resources are used to meet human needs
(individual and social) for both, production and
consumption. These uses gives them economic value.

• They are useful and can be exhausted. Therefore, is

necessary to know how much resource should we
extract per period and at what cost to avoid exhaustion.

• It has led us to raise the problem of optimal and

sustainable extraction of natural resources.

8
 Renewable stock resources
• The capacity of growth (or variation) of the existing stock
of a renewable resource is one of its main
characteristics.
• Remember that these resources can regenerate or
disappear in a relatively short period of time.

Therefore, the growth

function is an
important
characteristic of the
resource.

9
 Renewable stock resources growth
• In any population there are 2 important processes: births
and deaths. Given, 𝐵𝐵 𝑡𝑡, Δ𝑡𝑡 the number of births and
𝐷𝐷(𝑡𝑡, Δ𝑡𝑡) the number of deaths in a population over a time
interval Δ𝑡𝑡 (between 𝑡𝑡 and (𝑡𝑡 + Δ𝑡𝑡)).

• Where 𝑋𝑋(𝑡𝑡) is the number of individuals in the

population at the time 𝑡𝑡 .

• After a time interval Δ𝑡𝑡, the resource stock will have

increased by 𝐵𝐵(𝑡𝑡) and decreased in 𝐷𝐷(𝑡𝑡) and will be
equal to:
𝑋𝑋(𝑡𝑡 + Δ𝑡𝑡) = 𝑋𝑋(𝑡𝑡) + 𝐵𝐵(𝑡𝑡, Δ𝑡𝑡) − 𝐷𝐷(𝑡𝑡, Δ𝑡𝑡).

10
 Renewable stock resources growth
• See that the number of births 𝐵𝐵(𝑡𝑡, Δ𝑡𝑡) is the product
of 3 factors:
1) Birth rate b, the number of offspring an individual
produces per unit of time;
2) The number of existing individuals 𝑋𝑋 𝑡𝑡 , and
3) The length of the period Δ𝑡𝑡.

Therefore, we can write 𝐵𝐵 𝑡𝑡, Δ𝑡𝑡 = 𝑏𝑏𝑏𝑏 𝑡𝑡 Δ𝑡𝑡.

11
 Renewable stock resources growth

• The same is true for the death rate:

𝐷𝐷(𝑡𝑡, Δ𝑡𝑡) = 𝑑𝑑𝑑𝑑(𝑡𝑡)Δ𝑡𝑡.
• Population growth can be written as:
𝑋𝑋 𝑡𝑡 + ∆𝑡𝑡 = 𝑋𝑋 𝑡𝑡 + 𝐵𝐵 𝑡𝑡, ∆𝑡𝑡 − 𝐷𝐷 𝑡𝑡, ∆𝑡𝑡
= 𝑋𝑋 𝑡𝑡 + 𝑏𝑏 − 𝑑𝑑 𝑋𝑋(𝑡𝑡)Δ𝑡𝑡
= 1 + 𝑟𝑟∆𝑡𝑡 𝑋𝑋(𝑡𝑡),
• where 𝑟𝑟 = 𝑏𝑏 − 𝑑𝑑 is the per capita rate of
population growth or intrinsic rate

12
 Renewable stock resources growth

• This growth rate can be written as:

𝑋𝑋(𝑡𝑡+∆𝑡𝑡) 𝑋𝑋 𝑡𝑡+∆𝑡𝑡 −𝑋𝑋(𝑡𝑡)

= 1 + 𝑟𝑟∆𝑡𝑡 or = 𝑟𝑟𝑟𝑟 𝑡𝑡
𝑋𝑋(𝑡𝑡) ∆𝑡𝑡

• Which means that during Δt the population size is

multiplied by (1 + 𝑟𝑟Δ𝑡𝑡).
• Si 𝑟𝑟 > 0 the population grows exponentially; si 𝑟𝑟 < 0
decreases exponentially; and for 𝑟𝑟 = 0 it remains
constant.
• A value 𝑟𝑟Δ𝑡𝑡 = +1, for example, it implies that the size
of the population doubles during Δ𝑡𝑡, while if 𝑟𝑟Δ𝑡𝑡 = – 0.5
it is halved. 13
 Renewable stock resources growth

• These are discrete-time equations that are used when

populations always reproduce with the same cadence, i.e.
always in spring.
• Other species, such as humans, breed throughout the year,
reproduction does not depend on the season of the year.
For these species we can use continuous time models.
• To express growth in continuous time we can reorder the
expression as:
𝑋𝑋 𝑡𝑡 + ∆𝑡𝑡 − 𝑋𝑋(𝑡𝑡)
= 𝑟𝑟𝑟𝑟 𝑡𝑡
∆𝑡𝑡
• It tells us that the rate of change of the population between t
and (𝑡𝑡 + Δ𝑡𝑡) divided by Δt. It is the growth rate 𝑟𝑟 by 𝑋𝑋 𝑡𝑡 .
14
 Renewable stock resources growth

• At Δ𝑡𝑡 tends to zero (has an infinitesimally small

dimension) this expression becomes nothing more than
the definition of derivative.

𝑋𝑋 𝑡𝑡 + ∆𝑡𝑡 − 𝑋𝑋(𝑡𝑡) 𝑑𝑑𝑑𝑑(𝑡𝑡)

= = 𝑟𝑟𝑟𝑟 𝑡𝑡
∆𝑡𝑡 𝑑𝑑𝑑𝑑
𝑑𝑑𝑋𝑋(𝑡𝑡)
• Where is the derivative of 𝑋𝑋 with respect to 𝑡𝑡 that
𝑑𝑑𝑑𝑑
indicates the growth of the resource.
• The solution to this equation is: 𝑋𝑋 𝑡𝑡 = 𝑋𝑋(𝑡𝑡0 )𝑒𝑒 𝑟𝑟(𝑡𝑡−𝑡𝑡0 )
15
• This is the exponential growth model. Representing the
exponential growth of an initial size population 𝑋𝑋 𝑡𝑡0
until t.
• In this model of population growth presents a great
limitation since if (𝒓𝒓 < 𝟎𝟎) the population becomes
extinct and if (𝒓𝒓 > 𝟎𝟎) grows infinitely only in the
event that 𝒓𝒓 = 𝟎𝟎 the population remains constant.
• In general populations do not show unlimited growth as
predicted by the exponential growth model.
• In many cases growth is dense-dependent, manifested
by a tendency to decrease the per capita growth rate as
density increases.
• The problem is that in the exponential model the r is fixed
when it normally depends on the size of the population.
16
• If there are many individuals in a population there is
competition for food, for space, for water and
therefore the growth rate decreases.
• Therefore, habitats have a maximum capacity and
the growth of the stock depends on the size of the
stock in the habitat, it depends on density.
• The simplest way to take this characteristic of
population evolution into account is to assume that
the population (given a habitat) has a maximum
carrying capacity K.
• Si 𝑋𝑋𝑡𝑡 represents the number of individuals in a
population at the time t then 𝐾𝐾/𝑋𝑋𝑡𝑡 it is the part of
habitat that corresponds to each individual. And 𝑋𝑋𝑡𝑡 ⁄𝐾𝐾
is the density.

17
 𝑑𝑑𝑋𝑋𝑡𝑡 1
• If an individual's share decreases the growth rate, also
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡
decreases.
• The simplest model that reflects this relationship is the
logistic function which assumes that the growth rate
𝒅𝒅𝑿𝑿𝒕𝒕 𝟏𝟏
has a linear dependency of 𝑿𝑿.
𝒅𝒅𝒅𝒅 𝑿𝑿𝒕𝒕
• This linear dependence is such that the growth rate reaches
its maximum value (𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 called the intrinsic rate of growth,
of per capita increment, instantaneous rate) para 𝑋𝑋 = 0 and
the growth rate decreases to 0 when 𝑋𝑋 tends to 𝐾𝐾.

𝑑𝑑𝑋𝑋𝑡𝑡 1 𝑋𝑋𝑡𝑡
= 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 1 −
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡 𝐾𝐾

18
 3 Functions to represent natural resources growth

1) Growth rate of the stock. It is the growth per unit of

resource in the case of logistic growth dependent on 𝑋𝑋𝑡𝑡 .
𝑑𝑑𝑋𝑋𝑡𝑡 1 𝑋𝑋𝑡𝑡
= 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 1 −
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡 𝐾𝐾
2) Evolution of resource size 𝑋𝑋𝑡𝑡 through time.
𝐾𝐾𝑋𝑋0 𝑒𝑒 𝑟𝑟𝑟𝑟
𝑋𝑋𝑡𝑡 =
𝐾𝐾+𝑋𝑋0 (𝑒𝑒 𝑟𝑟𝑟𝑟 −1)
3) Natural growth of the resource
𝑑𝑑𝑋𝑋𝑡𝑡 𝑋𝑋𝑡𝑡
𝐹𝐹 𝑋𝑋𝑡𝑡 = = 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 𝑋𝑋𝑡𝑡 1 −
𝑑𝑑𝑑𝑑 𝐾𝐾
𝑑𝑑𝑋𝑋𝑡𝑡 1
If the growth rate is = 0,10 (𝑜𝑜𝑜𝑜 10%) and the population is 𝑋𝑋(𝑡𝑡) = 500 the growth
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡
𝐹𝐹(𝑋𝑋) = 50

19
 Exponential Growth
density-independent
𝑑𝑑𝑋𝑋𝑡𝑡 1
= 𝑟𝑟
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡

Logistic Growth,
density-dependent
𝑑𝑑𝑋𝑋𝑡𝑡 1 𝑋𝑋𝑡𝑡
= 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 1 −
𝑑𝑑𝑑𝑑 𝑋𝑋𝑡𝑡 𝐾𝐾

In this figure our 𝑋𝑋 𝑡𝑡 = 𝑁𝑁 and 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 is the intrinsic growth rate (or also called the
annual per capita growth rate). And the growth rate of the stock in the logistic
𝑑𝑑𝑋𝑋 1 𝑋𝑋 𝑑𝑑𝑋𝑋 1
case is: 𝑑𝑑𝑑𝑑𝑡𝑡 = 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 1 − 𝐾𝐾𝑡𝑡 and in the exponential 𝑑𝑑𝑑𝑑𝑡𝑡 = 𝑟𝑟
𝑋𝑋𝑡𝑡 𝑋𝑋𝑡𝑡

20
 Natural growth of the resource
• There are different logistic equations that represent
dense-dependent growth functions. In all of them, K
(carrying capacity) appears as a fundamental element.

• The simplest differential version to describe the growth of

a population that depends on the size of the stock
(population) in continuous time is:

𝑑𝑑𝑋𝑋𝑡𝑡 𝑋𝑋𝑡𝑡
= 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 𝑋𝑋𝑡𝑡 1 −
𝑑𝑑𝑑𝑑 𝐾𝐾

21
 Natural growth of the resource graphical
representation
1,2

• We have seen that a natural resource growth

1

feature of these functions 0,8

is that the rate of growth

(𝑑𝑑𝑋𝑋_𝑡𝑡)/𝑑𝑑𝑡𝑡 )
0,6

of the resource depends 0,4

on the size of the stock, 0,2

𝑋𝑋𝑡𝑡 . 0
0 50 100 150 200 250
𝑋𝑋_𝑡𝑡

• And that this feature

allows us to represent the 𝑑𝑑𝑋𝑋𝑡𝑡 𝑋𝑋𝑡𝑡
dynamics of a forest 𝐹𝐹 𝑋𝑋𝑡𝑡 = = 𝑟𝑟𝑚𝑚𝑚𝑚𝑚𝑚 𝑋𝑋𝑡𝑡 1 −
biomass through a
𝑑𝑑𝑑𝑑 𝐾𝐾
function that depends on
𝑋𝑋𝑡𝑡 such as:
22
 Natural growth of the resource graphical
representation
• Tells us the amount at which
the resource grows in units of 1,2

resource per unit of time given natural resource growth

1
and stock size.
0,8
• 𝑚𝑚3 of wood per year, or the

(𝑑𝑑𝑋𝑋_𝑡𝑡)/𝑑𝑑𝑡𝑡)
0,6
number of individuals/year.
0,4
• The resource grows at a
maximum rate when the stock 0,2

is equal to 𝑋𝑋𝑡𝑡 = 100 This is the 0

0 50 100 150 200 250
maximum sustainable yield. 𝑋𝑋_𝑡𝑡

• These types of functions tell us

for a forest of a certain fixed
extension, which will be the The rate of growth F(Xt) can be
sustainable growth rate for a given in m3/unidad de tiempo.
stock of 50, 100 or 150 units.

23
 Evolution of the resource through time
without economic exploitation

• If we want to find the

expression for certain
𝑋𝑋𝑡𝑡 we will have to
integrate the function of
growth and will give us
the expression

𝐾𝐾𝑋𝑋0 𝑒𝑒 𝑟𝑟𝑟𝑟
𝑋𝑋𝑡𝑡 =
𝐾𝐾 + 𝑋𝑋0 (𝑒𝑒 𝑟𝑟𝑟𝑟 − 1)

• This is the curve represents the evolution of the

resource X(t) (forest biomass) through time
when it grows following a logistics.
24
 t X(t) X(t)2 X(t)3

0,1 1,0501942 2,05717965 0,53067017

0,2 1,10285116 2,15810104 0,5575748
0,3 1,15808588 2,26373967 0,58582733
0,4 1,21601816 2,37429267 0,6154936
0,5 1,2767727 2,48996306 0,6466425
0,6 1,34047924 2,61095973 0,67934611
0,7 1,4072727 2,7374973 0,71367977
0,8 1,47729331 2,86979601 0,74972225
0,9 1,5506867 3,00808156 0,78755588
1 1,62760404 3,15258489 0,82726665
2 2,62796997 4,99348534 1,34944807
3 4,1899285 7,73193215 2,18658041
4 6,55185297 11,5855673 3,50560882
5 9,95586578 16,605324 5,52832556
6 14,5367162 22,5247225 8,5046558
7 20,1639589 28,7383426 12,628356
8 26,3509291 34,5129121 17,889519
9 32,3762728 39,3029105 23,938545
10 37,5894798 42,9155189 30,1146983
11
12
41,6579254
44,5847832
45,4493436
47,1373742
35,7014434
40,2279246
• Evolution of X (tons of timber) through time
13 46,569308 48,2237151 43,5791735 of the value of timber at different rates r.
14 47,8614446 48,9073555 45,8983225
15 48,6806979 49,3315298 47,4292282
16 49,1914079 49,5924082 48,4085525
17 49,5064234 49,7519876 49,0224963
18 49,6994633 49,8492787 49,402518
19 49,8172832 49,9084744 49,6358969
20 49,8890171 49,9444469 49,7785257
21 49,9326266 49,9662906 49,8654345
22 49,9591143 49,9795488 49,9182954
23 49,9751936 49,9875937 49,9504118
24 49,9849512 49,9924745 49,9699115
25 49,9908714 49,9954353 49,9817461

25
 t X(t) S(t)

0,1 1,0501942 24,5220347

0,2 1,10285116 25,7515746
0,3 1,15808588 27,0413054
0,4 1,21601816 28,3940241
0,5 1,2767727 29,8126425
0,6 1,34047924 31,3001902
0,7 1,4072727 32,8598176
0,8 1,47729331 34,4947988
0,9 1,5506867 36,2085345
1 1,62760404 38,0045544
2 2,62796997 61,3630987
3 4,1899285 97,8348306
4 6,55185297 152,985767
5 9,95586578 232,469466
6 14,5367162 339,432324
7 20,1639589 470,82844
8 26,3509291 615,294193
9 32,3762728 755,98597
10 37,5894798 877,714353
11 41,6579254 972,712559
12 44,5847832 1041,05469 • If we assign an economic value to X (tons
13
14
46,569308
47,8614446
1087,39334
1117,56473 of timber) we can obtain the evolution
15
16
48,6806979
49,1914079
1136,6943
1148,61938
through time of the value of timber.
17 49,5064234 1155,97499
18 49,6994633 1160,48247
19 49,8172832 1163,23356 • Assume that pine saw timber stumpage
20 49,8890171 1164,90855
21 49,9326266 1165,92683 prices were on average 23.35 € per ton in
22 49,9591143 1166,54532
23 49,9751936 1166,92077 2020
24 49,9849512 1167,14861
25 49,9908714 1167,28685

26
 Resource with economic value
• If the renewable resource has economic value,
the stock size, 𝑋𝑋(𝑡𝑡) of this resource will be
affected by the its economic management.
• The objective of this management depends on
the interests of the resource managers.
• The objective can be (among others):
1) Sustainable extraction of the resource, or
2) Profit maximization or
3) Maximize the volume of wood extracted, among
others.
27
 Harvest Function
• Suppose the resource is exploited economically, ex. a
forest for wood.
• To simplify notation and follow tradition the natural growth
𝑑𝑑𝑋𝑋
rate will be called 𝐹𝐹 𝑋𝑋𝑡𝑡 , which is the same as 𝑡𝑡 .
𝑑𝑑𝑑𝑑
• The economic exploitation of a resource is represented
through a harvest function, 𝐻𝐻(𝐸𝐸𝑡𝑡 ) where 𝐸𝐸𝑡𝑡 are the hours
worked extracting wood.
• It is a concave and growing function with respect to inputs.
• 𝐻𝐻(𝐸𝐸𝑡𝑡 ) tells us the 𝑚𝑚3 de wood felled in a period of time if
the hours worked are 𝐸𝐸𝑡𝑡 .

28
 t X(t)2 dX(t)2/dt

0,1 2,05717965 0,0499

0,2 2,15810104 0,0996
0,3 2,26373967 0,1491
0,4 2,37429267 0,1984
0,5 2,48996306 0,2475
0,6 2,61095973 0,2964
0,7 2,7374973 0,3451
0,8 2,86979601 0,3936
0,9 3,00808156 0,4419
1 3,15258489 0,49
2 4,99348534 0,96
3 7,73193215 1,41
4 11,5855673 1,84
5 16,605324 2,25
6 22,5247225 2,64
7 28,7383426 3,01
8 34,5129121 3,36
9 39,3029105 3,69
10 42,9155189 4
11 45,4493436 4,29
12 47,1373742 4,56
13 48,2237151 4,81
14 48,9073555 5,04
15 49,3315298 5,25
16 49,5924082 5,44
17 49,7519876 5,61
18 49,8492787 5,76
19 49,9084744 5,89
20 49,9444469 6
21 49,9662906 6,09
22 49,9795488 6,16
23 49,9875937 6,21
24 49,9924745 6,24
25 49,9954353 6,25
26 49,9972312 6,24
27 49,9983206 6,21
28 49,9989814 6,16
29 49,9993822 6,09
30 49,9996253 6
31 49,9997727 5,89
32 49,9998621 5,76
33 49,9999164 5,61
34 49,9999493 5,44
35 49,9999692 5,25
36 49,9999813 5,04
37 49,9999887 4,81
38 49,9999931 4,56
39 49,9999958 4,29
40 49,9999975 4
41 49,9999985 3,69
42 49,9999991 3,36
43 49,9999994 3,01
44 49,9999997 2,64
45 49,9999998 2,25
46 49,9999999 1,84
47
48
49,9999999
50
1,41
0,96
29
49 50 0,49
50 50 0
 Harvest function
• For the resource to be sustainable the growth of the
stock has to be at least zero. That is, the stock
remains constant at least.
𝑑𝑑𝑋𝑋
• 𝑋𝑋̇ = 𝑡𝑡 − 𝐻𝐻 𝐸𝐸𝑡𝑡 =0
𝑑𝑑𝑑𝑑

• We will assume that a

resource is sustainable
if its stock remains
constant over time.
• That is if 𝑋𝑋̇ = 0 (or 𝑋𝑋̇ ≥ 0)

𝐹𝐹 𝑋𝑋𝑡𝑡 = 𝐻𝐻(𝐸𝐸𝑡𝑡 )

30
 Harvest Function
• ¿What does 𝑋𝑋̇ = 0 mean?
or ¿𝐹𝐹 𝑋𝑋𝑡𝑡 = 𝐻𝐻(𝐸𝐸𝑡𝑡 )?
Growth of X(t) depending on its size

• Is an extraction equal to
7

6
𝐻𝐻 𝐸𝐸𝑡𝑡 = 4 tons when 𝑋𝑋𝑡𝑡 = 5

40 tons sustainable?

dX(t)2/dt
4

• And if 𝐻𝐻 𝐸𝐸𝑡𝑡 = 5 tons 2

when 𝑋𝑋𝑡𝑡 = 40?

1

0
0 10 20 30 40 50 60
X2(t)

• Look at the graph and let

me know.

31
 Effort Function
• For each level of 𝑋𝑋𝑡𝑡 there will be at least an extraction
effort from which the exploitation will not be
sustainable. Otherwise, the resource would be
inexhaustible.

• For example, if the natural growth function of the resource

is 𝐹𝐹 𝑋𝑋𝑡𝑡 = 𝑟𝑟𝑋𝑋𝑡𝑡 (1 − (𝑋𝑋𝑡𝑡 ⁄𝐾𝐾)) and the harvest function is
𝐻𝐻 𝐸𝐸𝑡𝑡 = 𝑞𝑞𝐸𝐸𝑡𝑡 ,

• To make extraction sustainable 𝑋𝑋̇ = 0, we need 𝐹𝐹 𝑋𝑋𝑡𝑡 =

𝐻𝐻(𝐸𝐸𝑡𝑡 ) that is:

𝐸𝐸𝑡𝑡 = 𝑟𝑟𝑋𝑋𝑡𝑡 1 − 𝑋𝑋𝑡𝑡 ⁄𝐾𝐾 /𝑞𝑞

32
 Esfuerzo de extracción
• It tells us for each 𝑋𝑋𝑡𝑡
the level of effort
(hours worked logging)
�𝑡𝑡 that would allow us
𝐸𝐸
to exploit the forest
sustainably:

𝑋𝑋𝑡𝑡
𝑟𝑟𝑋𝑋𝑡𝑡 1 −
�𝑡𝑡 =
𝐸𝐸 𝐾𝐾
𝑞𝑞

• This level of effort can be represented graphically.

• The graphic representation is also shaped like a bell.
33
 Extracción sostenible y Esfuerzo
• On the vertical axis
instead of the growth
rate of the resource per
period of time we have
the number of hours of
work needed to extract
that growth.
• On the vertical axis we
have
𝑋𝑋
𝑟𝑟𝑋𝑋𝑡𝑡 1− 𝐾𝐾𝑡𝑡 � It tells us for each stock
(𝐸𝐸)
�𝑡𝑡 =
• 𝐸𝐸
𝑞𝑞 level (X) the maximum
number of hours (𝐸𝐸) � that can
be dedicated to the extraction
of wood if the resource must
be sustainable. 34
• These relationships between resource growth and
extraction can be applied to many natural resources. Not
only those that are directly economically exploitable such
as forestry or fisheries.
• The dynamics of most natural resources that depend on a
habitat to survive can be represented by this model.
• For example, the fauna in danger of extinction will have a
growth rate that can be represented by a logistical
function and there will be a rate of exploitation that will be
determined by the agricultural, industrial or any other type
practices that threaten its growth.

35