Decisions involving risk are usually taken in the presence of other insurable or non-insurable risks, the latter type called background risk. We examine how changing background risk influences risk-taking based on panel data with monthly observations from Senegalese fishermen. Fishing income is...

We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form...

Cooperation is thought to be a necessary condition to solve collective dilemmas such as climate change or the sustainable use of common-pool resources. Yet, it is poorly understood how situations pervaded by thresholds shape the behaviour of people facing collective dilemmas. Here we provide...

Climate change is likely to trigger abrupt and potentially persistent changes in the structure and function of marine ecosystems. Such ‘regime shifts' threaten the livelihoods of millions of people reliant on small-scale fisheries. Yet, it is largely unknown how resource users cope with regime...

Demand and supply analysis in fisheries often indicates the presence of instabilities and multiple equilibria, both in open access conditions and in the socially optimal solution. The associated management problems are further intensified by uncertainty on the evolution of the resource stock or...

This article analyzes season length restrictions in fisheries management from an ecological-economic standpoint. The article first builds a model of a stylized fishery in which season length restrictions are used to manage the fishery. The article then demonstrates how the intertemporal and the...

We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form...

This paper studies season length restrictions in fisheries management from an ecological-economic perspective. We first construct a model of a stylized fishery in which season length restrictions are used to manage the fishery. We then show how the dynamic and the stochastic properties of this...

Building upon the reference dependent preferences model, we develop a theoretical framework to examine the relationship between environment and preferences. To verify the model's prediction, we use a combined artefactual field experiment and household survey data in Vietnam to investigate...

We incorporate reference dependent preferences and hyperbolic discounting to examine the demand for commitment devices. A new insight is that loss aversion, independent from time inconsistent preferences, affects demand for commitment devices in the face of uncertainty. Using a unique...