The aim of this research programme is to develop economic theory and policy instruments for improving the management of social-ecological systems with the various complexities taken into account.
Although human concerns on complex systems have existed for thousands of years, formal scientific
study of such systems is a fairly young branch of science. In contrast to other areas of science
with simple system assumptions, this new branch of research explicitly recognises the complexity of
multiple interacting components involving, among other things, threshold effects, fast and slow processes, non-convexities, non-linear feedbacks and stochastic influences.
Small-scale integrated models will be developed to explore the economic effects of missing links and feedbacks in complex sopcial-ecological systems, as well as their economic implications for improving resource management strategies.
Among other things, optimal taxation of common pool resources in the presence of nonlinearities, thresholds and multiple steady states, will be studied. In addition, the inclusive wealth and resilience pricing model will be augmented to encompass information value and resilience management with applications to fishery studies involving stochastic influences and critical fish stocks