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A comparison of adaptive management and real options approaches for environmental decisions under uncertainty

Chades, Iadine; Tarnopolskaya, T; Dunstall, Simon; Rhodes, J.; Tulloch, Ayesha

Description

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]

CollectionsANU Research Publications
Date published: 2015
Type: Conference paper
URI: http://hdl.handle.net/1885/154185
Source: MODSIM2015, 21st International Congress on Modelling and Simulation. Modelling and Simulation Society of Australia and New Zealand
Access Rights: Open Access

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