Risk of stock collapse is a genuine motivation for cooperative fisheries management. We analyse the effect of an endogenously determined risk of stock collapse on the incentives to cooperate in a Great Fish War model. We establish that equilibrium harvest strategies are non-linear in stock and...

Poverty indices are usually calculated on the basis of (cross section) income data from the past. As past income is fixed and future income is uncertain, such measurement does not reflect the ex ante risk of falling into poverty. This paper presents refinements of commonly used poverty measures...

Poverty indices are usually calculated on the basis of cross section income data. As an indicator of well-being the results of such analyses have two shortcomings. First, income insecurity and the risk of becoming poor may affect a person's well-being even if ex post her income is above the...

This book explores some of the complexities of decision-making under risk and uncertainty in environmental and natural resource economics. Risk and uncertainty are inherent problems for economists, and the authors in this volume offer numerous challenges and opportunities to improve the tools we...