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	Provedor de dados AgEcon (1) Autor Leizarowitz, Arie (1) Tsur, Yacov (1) Palavra-chave Environmental Economics and Policy (1) Event uncertainty (1) Markov decision process (1) Optimal stationary policy (1) Stochastic stock dynamics (1) Tipo do documento Working or Discussion Paper (1) Ano 2009 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última Resource Management with Stochastic Recharge and Environmental Threats AgEcon Leizarowitz, Arie; Tsur, Yacov. Exploitation diminishes the capacity of renewable resources to with-stand environmental stress, increasing their vulnerability to extreme conditions that may trigger abrupt changes. The onset of such events depends on the coincidence of extreme environmental conditions (environmental threat) and the resource state (determining its resilience). When the former is uncertain and the latter evolves stochastically, the uncertainty regarding the event occurrence is the result of the combined effect of these two uncertain components. We analyzed optimal resource management in such a setting. Existence of an optimal stationary policy is established and long run properties are characterized. A numerical illustration based on actual data is presented. Tipo: Working or Discussion Paper Palavras-chave: Stochastic stock dynamics; Event uncertainty; Markov decision process; Optimal stationary policy; Environmental Economics and Policy. Ano: 2009 URL: http://purl.umn.edu/52784 Registros recuperados: 1 Primeira ... 1 ... Última

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