open-access resource (water). The results show that uncoordinated farmers with a high risk aversion may under-adapt while … farmers with a low risk aversion would over-adapt under the same conditions. Private adaptation should be supported or …. -- Adaptation to climate change ; climate variability ; risk and uncertainty ; real option ; water ; open-access resources …

The problem of the commons is more important to our lives and thus more central to economics than a century ago when … the commons. Within the realm of natural resources, there are special challenges associated with renewable resources …. Critical commons problems are also associated with environmental quality. A key contribution of economics has been the …

The problem of the commons is more important to our lives and thus more central to economics than a century ago when … the commons. Within the realm of natural resources, there are special challenges associated with renewable resources …. Critical commons problems are also associated with environmental quality. A key contribution of economics has been the …