Brock, W.A.; Starrett, D. - In: Environmental & Resource Economics 26 (2003) 4, pp. 575-602
We study here optimal management of dynamic ecological systemsthat exhibit a destabilizing positive feedback. The prototypeexample is that of a shallow lake in which phosphorous loadingplaced by anthropogenic activities (fertilizers for farmingand gardening) is stored in sediments until a...