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Optimal Management with Potential Regime Shifts
Polasky, Stephen - 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/10013136238
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Harvesting a Remote Renewable Resource
Upmann, Thorsten - 2018
In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere all the time. In some cases though, it is more realistic to assume that the resource is located at a single point in space and that...
Persistent link: https://www.econbiz.de/10012930805
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Optimal Harvesting of a Spatial Renewable Resource
Behringer, Stefan - 2015
In this paper we investigate optimal harvesting of a renewable natural resource. While in the standard approach the resource is located at a single point in space we allow for the resource to be distributed over the plane. Consequently, an agent who exploits the resource has to travel from one...
Persistent link: https://www.econbiz.de/10013036168
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A Spatial Approach to Energy Economics
Moreno-Cruz, Juan; Taylor, M. Scott - 2021
We develop a spatial model of energy exploitation where energy sources are differentiated by their geographic location and energy density. The spatial setting creates a scaling law that magnifies the importance of differences across energy sources. As a result, renewable sources twice as dense,...
Persistent link: https://www.econbiz.de/10013315804
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Pricing the Ecosystem and Taxing Ecosystem Services : A General Equilibrium Approach
Eichner, Thomas; Pethig, Rudiger - 2021
In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and wildlife species compete for land and prey biomass. We introduce a competitive allocation mechanism in both submodels such that economic prices and ecosystem prices guide the allocation in the economy...
Persistent link: https://www.econbiz.de/10013317058
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Optimal Management with Potential Regime Shifts
Polasky, Stephen; Zeeuw, Aart de; Wagener, Florian - CESifo - 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/10008727304
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Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource
Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - CESifo - 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/10005094298
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On the Effects of Mergers on Equilibrium Outcomes in a Common Property Renewable Asset Oligopoly
Benchekroun, Hassan; Gaudet, Gérard - CESifo - 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/10011082835
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Trade Tariffs and Self-Enforcing Environmental Agreements
Eichner, Thomas; Pethig, Rüdiger - CESifo - 2013
international trade, self-enforcing - or stable - IEAs may comprise up to 60% of all countries (Eichner and Pethig 2013). But these … coalitions are Stackelberg leaders and set tariffs in addition to their cap-and-trade schemes. Surprisingly, these smaller IEAs …
Persistent link: https://www.econbiz.de/10010877766
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Trade, Integration, and Interregional Inequality
Hirte, Georg; Lessmann, Christian - CESifo - 2014
We study the effect of international trade and freeness of trade (openness) on interregional inequality within … on weighted trade shares and trade costs. In addition to the standard trade-to-GDP ratio, we derive and propose an … aggregate freeness-of-trade measure based on phiness of trade. Both measures are instrumented by proxies constructed from …
Persistent link: https://www.econbiz.de/10010877821