A long standing question in range management concerns the relative importance of the stocking rate versus the length of time during which animals graze a particular rangeland. We address this question by analyzing the problem faced by a private rancher who wishes to minimize the long run...

In a two-period model, economists such as K.J. Arrow, A.C. Fisher, and C. Henry, have shown that when development is both indivisible and irreversible, a developer who ignores the possibility of obtaining new information about the outcome of such development will invariably underestimate the...

I model the interaction between a regulator and polluting firms as a Stackelberg differential game in which the regulator leads. The firms create pollution, which results in a stock externality. I analyze the intertemporal effects of alternate pollution control measures in a competitive...

Atemporal and intertemporal use of public lands, the determination of optimal levels of wilderness designation and habitat preservation, and the appropriate regulation of natural resources have all been "hot button" issues in the American West for quite some time now. In this paper, I propose...

We first construct three measures of the expected damage from the unintentional introduction of alien species into a country called Home. We then focus on four market structures. First, perfect competition prevails in both Home and Foreign, and Home is a small country. Second, the Home and the...

The combination of a general greening of international political debate, and the events of 1992 at the Rio Earth summit have led to great interest in the question of global environmental protection. While it is recognized that international environmental agreements (IEAs) are the means by which...

In this paper I propose and develop a new framework for modeling groundwater management issues. Specifically, I apply the methods of queuing theoryfor the first time, to the best of my knowledgeto model a groundwater management problem from a long-run perspective. I characterize two simple...