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...

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...

We model countries’ choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

Since 1999, China has spent RMB 50 billion (about US$7 billion) to implement the Grain for Green programme, the largest land retirement programme in the developing world. From 1999 to 2003, over 7.2 million hectares of agricultural land were retired under the programme. However, many farmers...

The notion of development influences and is influenced by all aspects of human life. Social science is but one representational option among many for conveying the myriad ways in which development is conceived, encountered, experienced, justified, courted, and/or resisted by different groups at...

This paper (i) explains the motivation for articulating the benefits of accessibility; (ii) provides a narrative basis for articulating how accessibility affects economic and social life; and (iii) moves towards a framework for quantifying the benefits of accessibility. In examining laws,...

Poverty, inequality and social exclusion are closely tied to personal mobility and the accessibility of goods and services. Evidence of the economic role of transport in promoting better living standards and greater wellbeing can be seen in the effects of both overall public investment in...