Information and the Dynamics of Environmental Protection: The Concept of the Critical Period
Earlier work on environmental decisions under uncertainty is extended from two periods to many, permitting treatment of a richer variety of problems. Implications for pollution control policy of several different kinds of ecosystem recovery dynamics are considered in the context of improving information about ecosystem behavior and preferences for environmental goods. Multiperiod analogs of the two-period concept of (quasi) option value are developed. Copyright 1990 by The editors of the Scandinavian Journal of Economics.
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Volume (Year): 92 (1990)
Issue (Month): 3 ()
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