This paper explores the long–run development of an economy with a traditional sector based on common-pool resource-use, a modern, resource-independent sector with fixed entry costs, and an imperfect capital market. We show theoretically that introducing resource-use regulations increases...

We study risk preferences and their determinants for commercial cattle farmers in Namibia who are subject to high precipitation risk that is heterogeneous across farms. We use data on risk preferences from questionnaire and field experiments, simulated data for on-farm precipitation risk and...

Rain-index insurance is strongly advocated in many parts of the developing world to help farmers coping with climatic risk that prevails in (semi-)arid rangelands due to low and highly uncertain rainfall. We present a modeling analysis of how the availability of rain-index insurance affects the...

Studying the sustainable use of ecosystem services under uncertainty requires the consideration of the stochastic dynamics of the system under study, risk and time preferences, risk management strategies and normative views pertaining to sustainability. To gather this information for an...

We analyze the efficiency of urbanization patterns in a dynamic model of endogenous urban growth with two sectors of production. Production exhibits increasing returns to scale on aggregate. Urban environmental pollution, as a force that discourages agglomeration, is caused by domestic...

We develop a general and unifying methodology for ecological economics which integrates philosophical considerations on the foundations of ecological economics with an adequate operationalization. We argue that the subject matter and aims of ecological economics require a specific combination of...