RISKS, RESILIENCE, AND NATURAL RESOURCE MANAGEMENT: LESSONS FROM SELECTED FINDINGS†

We propose ways that resource managers can respond to risk and promote resilience. Based on a selected review of key findings in the literature, we provide three complementary contributions: (i) a justification for an alternative to the consequences by likelihood approach to risk analysis; (ii) an explanation about how to quantitatively use derivatives to mitigate risk in natural resource management; and (iii) approaches to promote resilience in fisheries management, groundwater extraction, and in the use of environmental offsets. Conclusions are offered about how the highlighted research findings could be used by resource managers to generate conservation benefits.