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The Renewable Resource Management Nexus: Impulse versus Continuous Harvesting Policies

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  • Alain Jean-Marie
  • Mabel Tidball
  • Michel Moreaux
  • Katrin Erdlenbruch

Abstract

We explore the link between cyclical and smooth resource exploitation. We define an impulse control framework which can generate both cyclical solutions and steady state solutions. For the cyclical solutions [...].

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File URL: http://www.lameta.univ-montp1.fr/Documents/DR2009-03.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by LAMETA, Universtiy of Montpellier in its series Working Papers with number 09-03.

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Length: 25 pages
Date of creation: Mar 2009
Date of revision: Mar 2009
Handle: RePEc:lam:wpaper:09-03

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  1. Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521337465, November.
  2. Clark, Colin W & Clarke, Frank H & Munro, Gordon R, 1979. "The Optimal Exploitation of Renewable Resource Stocks: Problems of Irreversible Investment," Econometrica, Econometric Society, vol. 47(1), pages 25-47, January.
  3. Liski, Matti & Kort, Peter M. & Novak, Andreas, 2001. "Increasing returns and cycles in fishing," Resource and Energy Economics, Elsevier, vol. 23(3), pages 241-258, July.
  4. Tracy R. Lewis & Richard Schmalensee, 1979. "Non-convexity and Optimal Harvesting Strategies for Renewable Resources," Canadian Journal of Economics, Canadian Economics Association, vol. 12(4), pages 677-91, November.
  5. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
  6. 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.
  7. Dawid, Herbert & Kopel, Michael, 1997. "On the Economically Optimal Exploitation of a Renewable Resource: The Case of a Convex Environment and a Convex Return Function," Journal of Economic Theory, Elsevier, vol. 76(2), pages 272-297, October.
  8. Wirl Franz, 1995. "The Cyclical Exploitation of Renewable Resource Stocks May Be Optimal," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 252-261, September.
  9. Michael Kopel & Herbert Dawid, 1999. "On optimal cycles in dynamic programming models with convex return function," Economic Theory, Springer, vol. 13(2), pages 309-327.
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