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On the Economically Optimal Exploitation of a Renewable Resource: The Case of a Convex Environment and a Convex Return Function

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  • Dawid, Herbert
  • Kopel, Michael

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 76 (1997)
Issue (Month): 2 (October)
Pages: 272-297

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Handle: RePEc:eee:jetheo:v:76:y:1997:i:2:p:272-297

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Web page: http://www.elsevier.com/locate/inca/622869

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References

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  1. Mitra, Tapan & Wan, Henry Y, Jr, 1985. "Some Theoretical Results on the Economics of Forestry," Review of Economic Studies, Wiley Blackwell, vol. 52(2), pages 263-82, April.
  2. Trond Bjorndal & Jon M. Conrad, 1987. "The Dynamics of an Open Access Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 20(1), pages 74-85, February.
  3. Skiba, A K, 1978. "Optimal Growth with a Convex-Concave Production Function," Econometrica, Econometric Society, vol. 46(3), pages 527-39, May.
  4. Tahvonen, Olli & Salo, Seppo, 1996. "Nonconvexities in Optimal Pollution Accumulation," Journal of Environmental Economics and Management, Elsevier, vol. 31(2), pages 160-177, September.
  5. Rognvaldur Hannesson, 1975. "Fishery Dynamics: A North Atlantic Cod Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 8(2), pages 151-73, May.
  6. Nishimura, Kazuo & Yano, Makoto, 1994. "Optimal Chaos, Nonlinearity and Feasibility Conditions," Economic Theory, Springer, vol. 4(5), pages 689-704, August.
  7. Nishimura, Kazuo, 1985. "Competitive equilibrium cycles," Journal of Economic Theory, Elsevier, vol. 35(2), pages 284-306, August.
  8. Tracy R. Lewis, 1981. "Exploitation of a Renewable Resource under Uncertainty," Canadian Journal of Economics, Canadian Economics Association, vol. 14(3), pages 422-39, August.
  9. Lewis, Tracy R & Schmalensee, Richard, 1977. "Nonconvexity and Optimal Exhaustion of Renewable Resources," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(3), pages 535-52, October.
  10. Nishimura, Kazuo & Yano, Makoto, 1995. "Nonlinear Dynamics and Chaos in Optimal Growth: An Example," Econometrica, Econometric Society, vol. 63(4), pages 981-1001, July.
  11. Spence, A Michael & Starrett, David, 1975. "Most Rapid Approach Paths in Accumulation Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 388-403, June.
  12. Trond Bjørndal & Jon M. Conrad & Kjell G. Salvanes, 1993. "Stock Size, Harvesting Costs, and the Potential for Extinction: The Case of Sealing," Land Economics, University of Wisconsin Press, vol. 69(2), pages 156-167.
  13. Michael Kopel & Gustav Feichtinger & Herbert Dawid, 1997. "Complex solutions of nonconcave dynamic optimization models (*)," Economic Theory, Springer, vol. 9(3), pages 427-439.
  14. Dechert, W. Davis & Nishimura, Kazuo, 1983. "A complete characterization of optimal growth paths in an aggregated model with a non-concave production function," Journal of Economic Theory, Elsevier, vol. 31(2), pages 332-354, December.
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Cited by:
  1. Da Rocha, José María & Antelo, Luis T. & Gutiérrez Huerta, María José, 2012. "Selectivity, pulse fishing and endogenous lifespan in Beverton-Holt models," DFAEII Working Papers 2012-11, University of the Basque Country - Department of Foundations of Economic Analysis II.
  2. Kort, P.M. & Liski, M. & Novak, A.J., 2001. "Increasing returns and cycles in fishing," Open Access publications from Tilburg University urn:nbn:nl:ui:12-86776, Tilburg University.
  3. Katrin Erdlenbruch & Alain Jean-Marie & Michel Moreaux & Mabel Tidball, 2010. "Optimality of Impulse Harvesting Policies," Working Papers hal-00864187, HAL.
  4. Halkos, George & Papageorgiou, George, 2013. "Dynamic modeling of pulse fishing: A game theoretic approach," MPRA Paper 47871, University Library of Munich, Germany.
  5. Luca Lambertini & Andrea Mantovani, 2013. "Feedback equilibria in a dynamic renewable resource oligopoly: pre-emption, voracity and exhaustion," Working Papers 2013/26, Institut d'Economia de Barcelona (IEB).
  6. Mette Termansen, 2007. "Economies of scale and the optimality of rotational dynamics in forestry," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(4), pages 643-659, August.
  7. Maroto, Jose M. & Moran, Manuel, 2008. "Increasing marginal returns and the danger of collapse of commercially valuable fish stocks," Ecological Economics, Elsevier, vol. 68(1-2), pages 422-428, December.
  8. Wirl, Franz, 2002. "Stability and limit cycles in competitive equilibria subject to adjustment costs and dynamic spillovers," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 375-398, March.
  9. Alain Jean-Marie & Mabel Tidball & Michel Moreaux & Katrin Erdlenbruch, 2009. "The Renewable Resource Management Nexus: Impulse versus Continuous Harvesting Policies," Working Papers 09-03, LAMETA, Universtiy of Montpellier, revised Mar 2009.

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