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...

A modified version of this article has been published in the May 2007 issue of the journal Ecological Economics. This paper presents the first comprehensive analysis of municipal-level open space referenda, both the decision to hold a referendum and referendum results, across the entire...

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...

We model countries’ choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

Since 1999, China has spent RMB 50 billion (about US$7 billion) to implement the Grain for Green programme, the largest land retirement programme in the developing world. From 1999 to 2003, over 7.2 million hectares of agricultural land were retired under the programme. However, many farmers...

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...

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...

This paper discusses both the opportunities for and the challenges associated with integrating economics and ecology in the study of ecosystem services. We distinguish between integration in positive versus normative analysis. There is rapid growth in positive research that combines the two...

We use a two-period model to analyze the short run and long run profitability and welfare consequences of horizontal mergers, where the equilibrium responses to a merger can differ over time. Although firms can anticipate the merger, they can only adjust their capacity in the long run.We find a...

The Economic Case for Nature is part of a series of papers by the World Bank that lays out the economic rationale for investing in nature and recognizes how economies rely on nature for services that are largely underpriced. This report presents a first-of-its-kind global integrated...