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Towards a Resource Economics for Adaptive Managers

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  • Marshall, Graham R.

Abstract

Adaptive management has become one of the catchphrases of the sustainable development literature, and is referred to increasingly in natural resource policy deliberations. Its advocates argue that natural resource sustainability issues are addressed more realistically and usefully as complex adaptive systems than as mechanistic systems. Resource economics has conventionally analysed such issues mechanistically, through the method of comparative statics. This paper explores the consequent limitations of conventional resource economics in supporting adaptive management, and offers signposts towards a resource economics with fewer of these limitations.

Suggested Citation

  • Marshall, Graham R., 2003. "Towards a Resource Economics for Adaptive Managers," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57921, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:57921
    DOI: 10.22004/ag.econ.57921
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    References listed on IDEAS

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    Cited by:

    1. Dinesh Jain & Vasant P. Gandhi, 2016. "Reforming Watershed Management Institutions for Inclusive and Sustainable Growth: Role of Institutional Interaction and Participative Decision Making," IIM Kozhikode Society & Management Review, , vol. 5(1), pages 22-40, January.
    2. Yee, Shion & Rolfe, John, 2006. "Evaluating the Efficiency of a Devolved Grants Program: A Central Queensland case study," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139932, Australian Agricultural and Resource Economics Society.

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