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 University Library of Munich, Germany in its series MPRA Paper with number 41912.
Date of creation: 2004
Date of revision:
stochastic production; fishery; risk;
Other versions of this item:
- Phoebe Koundouri & Marita Laukkanen, . "Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations," DEOS Working Papers 0403, Athens University of Economics and Business.
- 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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