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...

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...

Dynamic problems of pollution and resource management with stock externalities often require a differential games framework of analysis. In addition they are represented realistically by non-linear transition equations. However, feedback Nash equilibrium (FBNE) solutions, which are the desired...