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Harvesting a Remote Renewable Resource

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  • Behringer, Stefan
  • Upmann, Thorsten

Abstract

In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere. In some cases, it is more realistic to assume that the resource is located at a single point and that the agent is required to travel. The agent faces a combined travelling–and–harvesting problem. We scrutinize this two-stage optimal control problem and characterise the optimal policy of the full travelling–and–harvesting problem.

Suggested Citation

  • Behringer, Stefan & Upmann, Thorsten, 2017. "Harvesting a Remote Renewable Resource," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168250, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc17:168250
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    More about this item

    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
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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