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Using Fast and Slow Processes to Manage Resources with Thresholds

  • Anne-Sophie Crépin

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    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

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    File URL: http://hdl.handle.net/10.1007/s10640-006-9029-8
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    Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

    Volume (Year): 36 (2007)
    Issue (Month): 2 (February)
    Pages: 191-213

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    Handle: RePEc:kap:enreec:v:36:y:2007:i:2:p:191-213
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100263

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    1. Anne-Sophie Crépin, 2003. "Multiple Species Boreal Forests – What Faustmann Missed," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(4), pages 625-646, December.
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