Lars J. Olson University of Maryland - College Park SBR-9515065 This research addresses questions about the management, conservation, extinction and sustainability of natural and environmental resources. Many of the critical natural resource and environmental issues facing society are those where the resource stock or environmental amenity affects social welfare and where the stock changes over time in response to human decisions and other factors. Examples include endangered species, preservation, declining fisheries, and accumulating pollutants such as those contributing to global warming and ozone depletion. This research will add a stock component to the models which analyze conservation and stock issues. The analysis will use discrete time deterministic and stochastic dynamic resource allocation models with non-concave growth or production functions. The research will advance understanding of the economic and environmental conditions under which resource conservation and sustainability can be expected to occur and it explores policy alternatives for achieving these ends.
