Using Fast and Slow Processes to Manage Resources with Thresholds

Anne-Sophie Crépin ()

Environmental & Resource Economics, 2007, vol. 36, issue 2, 213 pages

Abstract: Economists have relied on convexity assumptions for a long time but many natural resources that stem from ecosystems have non-convexities in their dynamics. This article illustrates the consequences of relaxing convexity assumptions for management and the role of fast and slow variables. The paper presents a general framework to handle systems with fast and slow variables, and illustrates the method using a model of coral reefs subject to fishing pressure. The insights obtained are used to discuss alternative management strategies. Copyright Springer Science+Business Media, Inc. 2007

Keywords: management; multiple steady states; non-convexities; slow and fast variables; C61; Q20; Q22 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s10640-006-9029-8

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