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The Economics of Shallow Lakes

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Author Info

  • Mäler, K-G.
  • Xepapadeas, A.
  • Zeeuw, A.J. de

    (Tilburg University, Center for Economic Research)

Abstract

Ecological systems such as shallow lakes areusually non-linear and display discontinuitiesand hysteresis in their behaviour. Thesesystems often also provide conflicting servicesas a resource and a waste sink. This impliesthat the economic analysis of these systemsrequires to solve a non-standard optimalcontrol problem or, in case of a commonproperty resource, a non-standard differentialgame. This paper provides the optimalmanagement solution and the open-loop Nashequilibrium for a dynamic economic analysis ofthe model for a shallow lake. It alsoinvestigates whether it is possible to induceoptimal management in case of common use of thelake, by means of a tax. Finally, some remarksare made on the feedback Nash equilibrium. Copyright Kluwer Academic Publishers 2003

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2000-69.

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Date of creation: 2000
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Handle: RePEc:dgr:kubcen:200069

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Web page: http://center.uvt.nl

Related research

Keywords: non-linear differential games; ecological systems;

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References

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  1. Skiba, A K, 1978. "Optimal Growth with a Convex-Concave Production Function," Econometrica, Econometric Society, vol. 46(3), pages 527-39, May.
  2. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  3. Ploeg, F. van der & Zeeuw, A.J. de, 1990. "International aspects of pollution control," Discussion Paper 1990-65, Tilburg University, Center for Economic Research.
  4. Tsutsui, Shunichi & Mino, Kazuo, 1990. "Nonlinear strategies in dynamic duopolistic competition with sticky prices," Journal of Economic Theory, Elsevier, vol. 52(1), pages 136-161, October.
  5. Brock,W.A. & Starrett,D., 2000. "Nonconvexities in ecological management problems," Working papers 26, Wisconsin Madison - Social Systems.
  6. Dockner Engelbert J. & Van Long Ngo, 1993. "International Pollution Control: Cooperative versus Noncooperative Strategies," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 13-29, July.
  7. Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 651-67, May.
  8. Matsuyama, Kiminori, 1991. "Increasing Returns, Industrialization, and Indeterminacy of Equilibrium," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 617-50, May.
  9. Brock, William A. & de Zeeuw, Aart, 2002. "The repeated lake game," Economics Letters, Elsevier, vol. 76(1), pages 109-114, June.
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