Heterogeneity among agent types and second-best management for non-market ecological services
AbstractSecond-best management affects different agent types differently, and heterogeneity among agents may create instances when only second best management is feasible. Capital-theoretic bioeconomic modeling often has imposed representative agent assumptions that may not capture this heterogeneity. Interactions between agent heterogeneity and second-best management have received little attention. Such heterogeneity is particularly important when management actions do not directly affect extensive margin decisions. We employ a microparameter model in a dynamic bioeconomic model to incorporate agent heterogeneity and intensive and extensive margin decisions for a nonmarket good, recreational fishing. The model yields qualitatively different management recommendations when a representative agent is assumed than when heterogeneity is included using the microparameter approach.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 48995.
Date of creation: 15 Apr 2009
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entry-exit; microparameter; bioeconomics; recreational fishing; landing limits; optimal control; Resource /Energy Economics and Policy; Q20; Q22; Q26;
Find related papers by JEL classification:
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
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- Johnston, Robert J. & Ranson, Matthew H. & Besedin, Elena Y. & Helm, Erik C., 2006. "What Determines Willingness to Pay per Fish? A Meta-Analysis of Recreational Fishing Values," Marine Resource Economics, Marine Resources Foundation, vol. 21(1).
- Joseph A. Herriges & Catherine L. Kling, 1999.
"Nonlinear Income Effects in Random Utility Models,"
The Review of Economics and Statistics,
MIT Press, vol. 81(1), pages 62-72, February.
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