This paper provides new evidence on the pattern of individual subjective welfare after a natural experiment in policy-led rural development, and aims to identify the causal relationships between subjective welfare and political opinions on the effects of the policy change. I adopt a structural...

Uncertainty enters the dynamic tradeoffs of environmental and natural resource management in a variety of ways and forms. In this chapter we review the various sources of uncertainty, the methodologies developed to account for them and implications regarding management of environmental and...

We characterize the dynamics of energy markets in which energy is derived from polluting (fossil) and clean (solar) resources. The analysis is based on geometric optimal control considerations. An important feature of solar energy technologies is that their cost of supply is predominantly due to...

Unintended consequences of announcing a climate policy well in advance of its implementation have been studied in a variety of situations. We show that a phenomenon akin to the so-called “Green- Paradox” holds also when the policy implementation date is uncertain. Governments are compelled,...

We characterize the dynamics of energy markets in which energy is derived from polluting (fossil) and clean (solar) resources. The analysis is based on geometric optimal control considerations. An important feature of solar energy technologies is that their cost of supply is predominantly due to...

We study the management of a natural resource that supports ecosystems as well as human needs. The reduction in the resource base introduces a threat of occurrence of catastrophic ecological events, such as the sudden collapse of the national habitat that lead to severe loss of biodiversity. The...

We study water regulation for a schematic water economy representing a wide range of real world situations. A water policy has inter- and intra-temporal components. The first determines the limits on extractions from the naturally replenished sources, given the stochastic nature of recharge...