Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations
AbstractIn this paper we address the implications of production risk for controlling fishing effort in a regulated fishery in a framework where fishers maximize expected utility of profit. We focus on controlling effort through season closures that limit the number of days the fishery is open to harvest each year.
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Bibliographic InfoPaper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 0403.
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Publication status: Published in Econometrics Informing Natural Resources Management Selected Empirical Analyses
stochastic production; fishery; risk;
Other versions of this item:
- Koundouri, Phoebe & Laukkanen, Marita, 2004. "Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations," MPRA Paper 41912, University Library of Munich, Germany.
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
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