We analyze how the threat of a potential 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. Prior...

Society faces difficult choices over whether to allow habitat conversion for economic gain versus conserving habitat to protect biodiversity. Because the conservation of biodiversity and the material well being of the human population are both important goals, it is important to set conservation...

We analyze a model of environmental regulation with learning about environmental damages and endogenous choice of emissions abatement technology by a polluting firm. We compare environmental policy under discretion, in which policy is updated upon learning new information, versus under rules, in...

Replaced with revised version of paper 08/04/06.

A modified version of this article has been published in the May 2007 issue of the journal Ecological Economics. This paper presents the first comprehensive analysis of municipal-level open space referenda, both the decision to hold a referendum and referendum results, across the entire...

This study uses a hedonic property price method to estimate how wetlands affect residential property values in a rural area. The study utilizes wetland inventory data coupled with extensive property sales records between January 2000 and September 2004 from Carteret County, NC. Our results...

Paper removed by author. Please see the current version, available online January 8, 2007: Mehta, S.V. et al. Optimal detection and control strategies for invasive species management. Ecological Economics (2007), doi:10.1016/j.ecolecon.2006.10.024

We analyze how the threat of a potential 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. Prior...

We model countries’ choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...