This study was prepared by Elke Lüdemann while she was working in the Department Human Capital and Innovation of the Ifo Institute. It was completed in July 2011 and accepted as a doctoral thesis by the Economics Department of the University of Munich (LMU). The subject of this study is a micro...

Acknowledgments -- Introduction -- Introduction to dynamic and stochastic resource economics : essays on biodiversity, invasive species, joint systems, and regulation -- Natural resource management -- On some aspects of the management of a stochastically developing forest -- On the choice...