Dynamic resource management under the risk of regime shifts

@inproceedings{Sakamoto2015DynamicRM,
  title={Dynamic resource management under the risk of regime shifts},
  author={Hiroaki Sakamoto},
  year={2015}
}
This paper provides a framework through which a dynamic resource management problem with potential regime shifts can be analyzed both in a strategic environment and from a social planner's perspective. Based on a fairly general model, a condition for a precautionary policy is discussed. By applying the framework to a common-property resource problemwith a… CONTINUE READING