… and risks. In order to analyze the SMSs in a dynamic setting, we develop a method for
solving optimal control problems when state space is divided into risky and non-risky sub-sets. …

… Safe Minimum Standards (SMSs) have been advocated as a policy rule for environmental
problems where uncertainty about risks … is no risk in one subset of state space and risk in other …

… system dynamics, and human activities can influence that risk, … if the risk of a shift is steeply
increasing, a safe standard may be … themselves are examples of such safe standards 3,4,25 . …

… toward risk that led to the concept of a safe minimum standard. … safe minimum standard
for conservation can be seen as highlighting another dimension of these dynamic resource …

… robust decision making, and safe minimum standards (among others). … risk premium not
only to cover the known uncertainties such as those involving climate sensitivity and health risks …

… As the size of the stock influences system resilience, changing the resource stock can
mitigate the risk of an immediate regime shift. However, no harvest policy is completely safe …

… To answer this research question, they introduced three risk treatments (probability … risk of
a threshold as follows: They showed the subjects in the risk treatments the resource dynamics (…

… more reliable than in a case where we can only say that a risk may or may not be serious. …
making in the absence of quantified risks. One option is the safe minimum standards (SMS) …

… minimum, typically in the 6,000 to 8,500 range. Likely population levels are much safer than
the level specified by the viability goal: the risk-… See Appendix C for a full plot of the risk-to-go …

… do, between 41 risk, which … ’ risk and 43 uncertainty jargon is perhaps slightly different than
in other sciences. The most common 44 risk analysis in economics pertains to financial risk. …