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The Economics of Shallow Lakes

Author

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  • Mäler, K-G.
  • Xepapadeas, A.
  • de Zeeuw, A.J.

    (Tilburg University, Center For Economic Research)

Abstract

Ecological systems such as shallow lakes areusually non-linear and display discontinuitiesand hysteresis in their behaviour. Thesesystems often also provide conflicting servicesas a resource and a waste sink. This impliesthat the economic analysis of these systemsrequires to solve a non-standard optimalcontrol problem or, in case of a commonproperty resource, a non-standard differentialgame. This paper provides the optimalmanagement solution and the open-loop Nashequilibrium for a dynamic economic analysis ofthe model for a shallow lake. It alsoinvestigates whether it is possible to induceoptimal management in case of common use of thelake, by means of a tax. Finally, some remarksare made on the feedback Nash equilibrium. Copyright Kluwer Academic Publishers 2003
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Suggested Citation

  • Mäler, K-G. & Xepapadeas, A. & de Zeeuw, A.J., 2000. "The Economics of Shallow Lakes," Discussion Paper 2000-69, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:77912e04-373f-4bd4-a1b9-bc223bb330b2
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    References listed on IDEAS

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