We provide an introductory review to the application of the theory of incentives under asymmetry of information to the exploitation and management of natural resources. We concentrate mostly on principal-agent problems with adverse selection as posed by the regulation of nonrenewable resources,...

We provide an introductory review to the application of the theory of incentives under asymmetry of information to the exploitation and management of natural resources. We concentrate mostly on principalagent problems with adverse selection as posed by the regulation of nonrenewable resources,...