| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
Safe Minimum Standards in Dynamic Resource Problems -- Conditions for Living on the Edge of Risk
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| Autores: |
Margolis, Michael
Naevdal, Eric
|
| Data: |
2005-10-26
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| Ano: |
2004
|
| Palavras-chave: |
Safe minimum standards
Optimal control
Critical zone
Threshold effects
Mixed risk spaces
Risk and Uncertainty
C61
Q20
Q30
|
| Resumo: |
Safe Minimum Standards (SMSs) have been advocated as a policy rule for environmental problems where uncertainty about risks and consequences are thought to be profound. This paper explores the rationale for such a policy within a dynamic framework and derives conditions for when SMSs can be summarily dismissed as a policy choice and for when SMSs can be defended as an optimal policy based on standard economic criteria. We have determined that these conditions can be checked with quite limited information about damages and risks. In order to analyze the SMSs in a dynamic setting, we have developed a method for solving optimal control problems where the state space is divided into risky and non-risky subsets.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
18713
http://purl.umn.edu/10568
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| Editor: |
AgEcon Search
|
| Relação: |
Resources for the Future>Discussion Papers
Discussion Paper 04-03
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| Formato: |
31
application/pdf
|
