A comparison of adaptive management and real options approaches for environmental decisions under uncertainty
Two approaches to sequential decisions under uncertainty in the environmental management - adaptive management and real options analysis – have evolved independently over the last decades. Adaptive management, or learning by doing, originated from adaptive control. Adaptive management is acknowledged as one of the best-practice methods to manage biological systems under structural uncertainty. Adaptive management has been used for the management of renewable natural resources (such as fisheries...[Show more]
|Collections||ANU Research Publications|
|Source:||MODSIM2015, 21st International Congress on Modelling and Simulation. Modelling and Simulation Society of Australia and New Zealand|
|Access Rights:||Open Access|
|01_Chades_A_comparison_of_adaptive_2015.pdf||231.03 kB||Adobe PDF|
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