“…Though there is a rich literature on the sharing of transboundary resources (Ansink & Houba, 2015;Munro, 1979;2009), few, if any, explicitly incorporate endogenous risk in the dynamic game setting (Frisvold and Caswell 2000;Kolstad 2005). The primary reason is a technical difficulty: analysis of the Stackelberg equilibrium, for example, is tricky even when only one resource is shared.…”