The Need for Environmental and Natural Resource Policy -- Classical Causes of Environmental Degradation -- Public Economics and Information -- Adapting Models to Ecosystems: Ecology, Time, and Space -- The Evolution of Rights -- Review of Policy Instruments -- Direct Regulation of the...

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...