Outcomes of the shallow lake interest conflict are presented in a number of different contexts: quasi-static and dynamic social planning, and quasi-static one-shot and repeated non-cooperative play. As the underlying dynamics are non-convex, the analysis uses geometrical-numerical methods: the...

Outcomes of the shallow lake interest conflict are presented in a number of different contexts: quasi-static and dynamic social planning, and quasi-static one-shot and repeated non-cooperative play. As the underlying dynamics are non-convex, the analysis uses geometrical-numerical methods: the...

In this paper, an asset-management model is proposed to address challenges facing regulators, managers, and operators of public-lighting systems and suggest optimal performance strategies. A new method is presented to estimate the failure rate of lamps based on the normal distribution function....

The adaptation vs. mitigation dilemma is considered by analyzing a simple dynamic model of managing a polluting process subject to the risk of abrupt occurrences of harmful events. The occurrence hazard can be mitigated by reducing the polluting emissions, while the occurrence damage can be...

This paper provides a framework through which a dynamic resource management problem with potential regime shifts can be analyzed both in a strategic environment and from a social planner׳s perspective. Based on a fairly general model, a condition for a precautionary policy is discussed. By...

Complex dynamic systems can undergo changes in feedbacks between system components causing a rapid and persistent shift in system behavior (“regime shifts”), and potentially reduce welfare from declining provision of important ecosystem services. In this paper, we provide an analytical...

Hydropower is not only a renewable and sustainable energy source, but its flexibility and storage capacity also makes it possible to improve grid stability and to support the deployment of other intermittent renewable energy sources such as wind and solar power. As a result, a renewed interest...