Polasky, Stephen; Zeeuw, Aart de; Wagener, Florian - Tinbergen Instituut - 2010
future regime shift affects optimal management. We use a simple general growth model to analyze four cases that involve … combinations of stock collapse versus changes in system dynamics, and exogenous versus endogenous probabilities of regime shift … potential regime shift on optimal management. We show that all other cases yield unambiguous results. In particular, with …