The relationship between land use and biodiversity is important to understand the decision support systems in order to attain sustainability. Nowadays, land use and biodiversity management is focused on protected areas, discarding other habitats, tending to favor exclusive property rights over...

We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash equilibrium. Similarly, for prudent agents an extra risk in...

I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk transfer, but meeting a conditional need. In this way,...