Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Fisheries 2 Location: B003 Session Chair: Bruno Nkuiya, Rensselaer Polytechnic Institute | |
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On the Optimal Management of Weakly interacting Natural Resources with Tipping Points 1: The Beijer Institute of Ecological Economics, WU Vienna; 2: University of Amsterdam We study the management of natural resources that are weakly connected and exhibit tipping behaviour in their dynamics. We obtain approximate feedback optimal management rules for networks of weakly connected natural resource systems by developing the value function with respect to the interaction strength. The method is general and rigorous, and allows to treat the effects of multiple interactions without suffering from the curse of dimensionality. We show that a system consisting of multiple interacting natural resource systems can be managed close to optimally if the interactions between the systems are weak. This is the case even if the system consists of many connected subsystems. Moreover, if the interaction strengths themselves can be controlled, managers can improve the outcome by only allowing beneficial interactions, and shutting down disadvantageous ones. This brings new options for the management of connected resources with tipping points. | |