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Optimal management with potential regime shifts

Polasky, Stephen; de Zeeuw, Aart; Wagener, Florian - 2010

We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth model to analyze four cases that involve combinations of stock collapse versus changes in system dynamics, and exogenous versus endogenous probabilities of regime shift. Prior...

Persistent link: https://www.econbiz.de/10010274863

A Market Mechanism for Sustainable and Efficient Resource Use under Uncertainty

Quaas, Martin F.; Winkler, Ralph - 2017

Sustainability and efficiency are potentially conflicting social objectives in natural resource management. We propose a market mechanism to allocate use rights over a stochastic resource to private managers. The mechanism endogenously determines the maximal tenure length guaranteeing that the...

Persistent link: https://www.econbiz.de/10011698691

On the Effects of Mergers on Equilibrium Outcomes in a Common Property Renewable Asset Oligopoly

Benchekroun, Hassan; Gaudet, Gérard - 2014

This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...

Persistent link: https://www.econbiz.de/10010435767

Dynamic Games of Common-Property Resource Exploitation When Self-Image Matters

Van Long, Ngo - 2019

The purpose of this paper is to model the influence of Kantian moral scruples in a dynamic environment. Our objectives are two-fold. Firstly, we investigate how a Nash equilibrium among agents who have moral scruples may ensure that the exploitation of a common property renewable resource is...

Persistent link: https://www.econbiz.de/10012860769

Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource

Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - 2000

We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns to scale production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of...

Persistent link: https://www.econbiz.de/10010314861

Language as a Renewable Resource : Import, Dissipation, and Absorption of Innovations

Wickström, Bengt-Arne - 2021

The structural stability of different languages subject to the import of external elements is analyzed. We focus on the temporal side of the different processes interacting to produce a change in the structure of the language. That is, the rate of import and dissipation of new elements is seen...

Persistent link: https://www.econbiz.de/10013315865

Zooming out : the trade effect of the euro in historical perspective

Berger, Helge; Nitsch, Volker - 2005

itself) to a sizable and statistically significant increase in trade between the member countries of EMU. In this paper, we … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … strong evidence of a gradual increase in trade intensity between European countries. Once we control for this trend in trade …

Persistent link: https://www.econbiz.de/10010261162

Inequality and relative reliance on tariffs : theory and evidence

Katsimi, Margarita; Moutos, Thomas - 2005

In this paper we construct a Ricardian model of trade in vertically-differentiated products between a developing …

Persistent link: https://www.econbiz.de/10010261183

How much does violence tax trade?

Blomberg, S. Brock; Hess, Gregory D. - 2004

We investigate the empirical impact of violence as compared to other trade impediments on trade flows. Our analysis is … of terrorism, as well as internal and external conflict is equivalent to as much as a 30 percent tariff on trade. This is …

Persistent link: https://www.econbiz.de/10010261218

Institutions and development : the interaction between trade regime and political system

Falkinger, Josef; Grossmann, Volker - 2004

This paper argues that openness to goods trade in combination with an unequal distribution of political power has been … provision of schooling are typically lower in an open than in a closed economy. Moreover, we find that, under openness to trade …, development is faster in a democratic system. We also endogenize the trade regime and demonstrate that, in political equilibrium …

Persistent link: https://www.econbiz.de/10010261261

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