Fishery managers face an ongoing challenge in managing commercial fisheries in a way which enables the short-term delivery of economic benefits to commercial fishers while also ensuring those benefits do not compromise the ability of fish stocks to deliver benefits into the future. This...

We consider a game between oligopolistic and fringe suppliers of fossil fuel from an exhaustible resource, and of producers of a renewable perfect substitute. Extraction costs are stock-dependent and strictly convex in the rate of extraction. We characterize the open-loop equilibrium...

Despite ambitious climate goals and already substantial stocks of developed fossil energy reserves, development of new fossil energy reserves continues to be high. This raises concerns, as it reinforces the fossil industry’s opportunities and incentives to continue extraction, and may...

Many developing countries depend crucially on open-access renewable natural resources (NR). Trade is generally viewed as hurting the long-term health of NR in commodity-exporting countries. I examine whether trade might be beneficial in the case of population growth. Dynamic general equilibrium...