Nkuiya, Bruno; Diekert, Florian - 2023
, and the risk of irreversible events (e.g., a stock collapse). Little is known about how a renewable resource harvester … would optimally respond to the combined effects of both sources of risk. In this paper, we propose a simple dynamic resource … variability in biological growth induces a cautious management policy, but only when regime shift risk is accounted for …