Discussion:
1) Norgaard and Trosper both place value on both extractive and preservation activities. How is it that Trosper's model results in an annual yield that is less than the maximum sustainable yield and a stock of wood fiber that is less than the maximum capacity of a forest? Be sure to explain the variables and include a graph.
2) Larson, Smith and Smith studied the possible forest management practices. Is it likely that tax revenues can solve the forest dilemma in the Rocky Mountains? What alternative strategies might be developed? Are there significant roadblocks to these strategies?
3) When looking at a renewable resource such as fisheries, explain what is meant by a sustainable yield. Explain different Open access and Limited access policies that have been attempted to avoid the tragedy of the commons in the fisheries. Is there evidence that one policy type is more successful?
4) Why does Jacobs focus on the idea of a conduit? What are the components of the conduit and why is it important? How does this model allow us to think of the issues of sustainability and environmental economics?
5) What do you think Boulding would say about Jacobs' conduit model? How does the idea of entropy come into play in the conduit?