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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...
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Most of the literature on stability of International Environmental Agreements is essen- tially static and can therefore not identify changes in the size of the stable coalition in connection with changes in the stock of pollutants. This is a relevant issue because most global pollution problems...
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