Economics of harvesting age-structured fish populations
A generic age-structured model is developed to derive analytical results on optimal harvesting. Given two age classes, knife-edge selectivity, and no stock-dependent harvesting cost, the steady state is a unique saddle point. Adding harvesting cost does not alter the uniqueness, given that the utility is linear. Under specific conditions such as nonselective gear, optimal harvesting is proved to be a stationary cycle that represents pulse fishing. Optimal steady states are different if age-structured information is ignored and optimization is based on traditional biomass variables. This implies that the existence of optimal sustainable harvesting depends on age-structured information. Given a specific set of conditions such as low interest rate and knife-edge selectivity, optimal harvesting converges toward a unique saddle point independently of the number of age classes.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Salo, Seppo & Tahvonen, Olli, 2002. "On Equilibrium Cycles and Normal Forests in Optimal Harvesting of Tree Vintages," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 1-22, July.
- Olson, Lars J. & Roy, Santanu, 1994.
"On Conservation of Renewable Resources with Stock-Dependent Return and Non-Concave Production,"
197800, University of Maryland, Department of Agricultural and Resource Economics.
- Olson, Lars J. & Roy, Santanu, 1996. "On Conservation of Renewable Resources with Stock-Dependent Return and Nonconcave Production," Journal of Economic Theory, Elsevier, vol. 70(1), pages 133-157, July.
- Smith, Martin D. & Zhang, Junjie & Coleman, Felicia C., 2008. "Econometric modeling of fisheries with complex life histories: Avoiding biological management failures," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 265-280, May.
- Deacon, Robert T., 1989. "An empirical model of fishery dynamics," Journal of Environmental Economics and Management, Elsevier, vol. 16(2), pages 167-183, March.
- Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-61, July-Aug..
- Plourde, C G, 1970. "A Simple Model of Replenishable Natural Resource Exploitation," American Economic Review, American Economic Association, vol. 60(3), pages 518-22, June.
- Wilen, James E., 2000. "Renewable Resource Economists and Policy: What Differences Have We Made?," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 306-327, May.
- Rognvaldur Hannesson, 1975. "Fishery Dynamics: A North Atlantic Cod Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 8(2), pages 151-73, May.
- Ussif Sumaila, 1997.
"Cooperative and Non-Cooperative Exploitation of the Arcto-Norwegian Cod Stock,"
Environmental & Resource Economics,
Springer;European Association of Environmental and Resource Economists, vol. 10(2), pages 147-165, September.
- Sumaila, U.R., 1997. "Cooperative and Non-Cooperative Exploitation of the Arcto-Norwegian Cod Stock," Norway; Department of Economics, University of Bergen 167, Department of Economics, University of Bergen.
- Olson, Lars J. & Roy, Santanu, 2000. "Dynamic Efficiency of Conservation of Renewable Resources under Uncertainty," Journal of Economic Theory, Elsevier, vol. 95(2), pages 186-214, December.
- Tapan Mitra & Henry Y. Wan, 1985. "Some Theoretical Results on the Economics of Forestry," Review of Economic Studies, Oxford University Press, vol. 52(2), pages 263-282.
- Massey, D. Matthew & Newbold, Stephen C. & Gentner, Brad, 2006. "Valuing water quality changes using a bioeconomic model of a coastal recreational fishery," Journal of Environmental Economics and Management, Elsevier, vol. 52(1), pages 482-500, July.
- Reed, William J., 1979. "Optimal escapement levels in stochastic and deterministic harvesting models," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 350-363, December.
- Salo, Seppo & Tahvonen, Olli, 2003. "On the economics of forest vintages," Journal of Economic Dynamics and Control, Elsevier, vol. 27(8), pages 1411-1435, June.
- Townsend, Ralph E., 1986. "A critique of models of the American lobster fishery," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 277-291, September.
- Mitra, Tapan & Wan, Henry Jr., 1986. "On the faustmann solution to the forest management problem," Journal of Economic Theory, Elsevier, vol. 40(2), pages 229-249, December.
- Mercenier, Jean & Michel, Philippe, 1994. "Discrete-Time Finite Horizon Appromixation of Infinite Horizon Optimization Problems with Steady-State Invariance," Econometrica, Econometric Society, vol. 62(3), pages 635-56, May.
- Smith, Martin D. & Wilen, James E., 2003. "Economic impacts of marine reserves: the importance of spatial behavior," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 183-206, September.
- Wilen, James E., 1985. "Bioeconomics of renewable resource use," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 1, chapter 2, pages 61-124 Elsevier.
When requesting a correction, please mention this item's handle: RePEc:eee:jeeman:v:58:y:2009:i:3:p:281-299. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.