Renewable resource management is necessary to avoid the dissipation ofinter-temporal rents due to open access exploitation. In reality management iscostly, which implies that the first best solution is not appropriate. Managementcosts must be considered explicitly in optimization problems, to...

This paper characterizes the optimal use of sanitary and phytosanitary standards to prevent the introduction of harmful pests and diseases through international trade. Because established pest and disease infestations grow and spread over time their introduction has intertemporal consequences....