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Structural and Observational Uncertainty in Environmental and Natural Resource Management

Author

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  • Fackler, Paul L.

Abstract

Structural uncertainty arises when key features of the behavior of a system are not well understood. Observational uncertainty arises when key variables in a system are not directly observed. Both types of uncertainty lead to problems for standard dynamic optimization approaches. The replacement of uncertainties by belief distributions over those uncertainties is one approach to addressing the problem. The use of this and other approaches are reviewed, with an emphasis on applications to environmental and resource management problems.

Suggested Citation

  • Fackler, Paul L., 2014. "Structural and Observational Uncertainty in Environmental and Natural Resource Management," International Review of Environmental and Resource Economics, now publishers, vol. 7(2), pages 109-139, July.
    • Handle: RePEc:now:jirere:101.00000058
    DOI: 10.1561/101.00000058
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    Citations

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    Cited by:

    1. Kling, David M. & Sanchirico, James N. & Fackler, Paul L., 2017. "Optimal monitoring and control under state uncertainty: Application to lionfish management," Journal of Environmental Economics and Management, Elsevier, vol. 84(C), pages 223-245.
    2. Jacob LaRiviere & David Kling & James N Sanchirico & Charles Sims & Michael Springborn, 2018. "The Treatment of Uncertainty and Learning in the Economics of Natural Resource and Environmental Management," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 92-112.
    3. Jules Selles, 2018. "Fisheries management: what uncertainties matter?," Working Papers hal-01824238, HAL.
    4. Baggio, Michele & Fackler, Paul L., 2016. "Optimal management with reversible regime shifts," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 124-136.

    More about this item

    Keywords

    Structural uncertainty; Observational uncertainty; Markov Decision Problems; Dynamic programming; Adaptive management; POMDPs;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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