In this article, we focus on the potential of governmental authorities dedicated to management of ecosystem services. We argue that the creation of such Ecosystem Service Districts (ESDs) will improve the efficient provision of services necessary for human welfare. At the moment, when agencies...

In this article, we focus on the potential of governmental authorities dedicated to management of ecosystem services. We argue that the creation of such Ecosystem Service Districts (ESDs) will improve the efficient provision of services necessary for human welfare. At the moment, when agencies...

Open dumping of waste and discharging untreated wastewater into environment are key causes of environmental pollution in the developing world, including South Asian countries. Waste and wastewater however can be a source for recovering energy, nutrients and water if properly treated or recycled...

In this paper we discuss the influence of using different production functions on modeling the resource extraction rates and economic growth. The focus is set on the modeling of the production sector, which requires either non-renewable resources, renewable resources or a combination of both...

Public trustees at the state, federal, and tribal level are tasked with ensuring that those responsible for destroying or damaging natural resources sufficiently compensate the public for its loss. Those trustees have the fiduciary duty to maintain and restore the natural resources within the...

The Institutional Analysis and Development (IAD) literature finds that Nash equilibrium predictions are empirically falsified in the social dilemmas that arise in community-level natural resource management problems. However, Nash equilibrium is not the only solution concept within...

There has been widespread debate about whether the way in which we measure economic activity is fit for purpose in the twenty-first century. One aspect of this debate is to move away from measuring a nation's income (GDP) towards monitoring a nation's assets (their inclusive wealth), as a better...

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