Fig. 1.
Phase-plane illustration of a system with multiple equilibria. The solid curves show the loci of stable steady states. Desirable steady states have relatively low levels of the fast variable, and undesirable steady states have relatively high levels of the fast variable. The dashed curve shows the unstable steady states. The open circle shows a possible location of the ecosystem. Management by economic optimization can move the ecosystem in direction 1 or direction 2. Direction 1 is favored by high utilities from polluting activity, low value of ecosystem services, or a high value of the discount rate. Direction 2 is favored by low utilities from polluting activity, high value of ecosystem services, a low discount rate, or caution due to uncertainty (parameter variance, stochastic factors, lags).

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