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Resource management has to take account of the possibility of tipping points and regime shifts in ecological systems that provide the resources. This article focuses on the typical model of regime shifts in the ecological literature and analyzes optimal management and common-property issues when...
Persistent link: https://www.econbiz.de/10010951572
The literature on game theory and fisheries is reviewed, beginning with the initial papers from the late 1970s on cooperative and noncooperative games. Later developments considered repeated games and trigger strategies as well as the stability of coalitions. It is argued that the latter...
Persistent link: https://www.econbiz.de/10010603977
This article presents lessons from the rich adoption literature for the nascent research on adaptation. Individuals' adoption choices are affected by profit and risk considerations and by credit and biophysical constraints. New technologies spread gradually, reflecting heterogeneity among...
Persistent link: https://www.econbiz.de/10010823033