In this lecture, we go into detail about the graphical solution to maximizing the intertemporal social welfare function (i.e., balancing present and future benefits and costs consistent with temporal discounting). We then pivot to considering social welfare functions that balance across individuals instead of across times. We use these social welfare functions to motivate why another framework is needed to be more practical, which will allow us to discuss Pareto optimality in the next lecture.
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In this lecture, we continue to discuss the economics of fisheries -- private and open-access. The lecture reminds us of the logistic growth...
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In this wrap-up lecture, we briefly cover government policy approaches for mitigating sustainability problems. We start with the Coasean id...
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This lecture continues the exploration into the quantitative analysis of renewable natural resource management. We review the mean-annual in...
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