IDEAS home Printed from https://ideas.repec.org/p/aue/wpaper/1324.html
   My bibliography  Save this paper

Dynamic modeling of pulse fishing: A game theoretic approach

Author

Listed:
  • George Halkos
  • George Papageorgiou

Abstract

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards a two�state model in which harvesting equipment is treated as a stock variable. As a consequence of this extension, equilibrium dynamics with bifurcations and limit cycles occur. We also discuss conflicts as a game with two types of players involved: the traditional fishermen armed with the basic equipment and the heavy equipment users. Both players have a common depletion function, considered as harvesting, which is dependent together on personal effort and on intensity of equipment�s usage.

Suggested Citation

  • George Halkos & George Papageorgiou, 2013. "Dynamic modeling of pulse fishing: A game theoretic approach," DEOS Working Papers 1324, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:1324
    as

    Download full text from publisher

    File URL: http://wpa.deos.aueb.gr/docs/Dynamic.modeling.of.pulse.fishing.pdf
    File Function: First version
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. David Levhari & Cees Withagen, 1992. "Optimal management of the growth potential of renewable resources," Journal of Economics, Springer, vol. 56(3), pages 297-309, October.
    2. Engelbert Dockner & Gustav Feichtinger, 1991. "On the optimality of limit cycles in dynamic economic systems," Journal of Economics, Springer, vol. 53(1), pages 31-50, February.
    3. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329.
    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 677-691, November.
    5. George E HALKOS & George PAPAGEORGIOU, 2010. "Dynamic Optimization In Natural Resources Management," Journal of Advanced Research in Management, ASERS Publishing, vol. 1(2), pages 92-97.
    6. 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.
    7. Halkos, George & Papageorgiou, George, 2012. "Pollution abatement and reservation prices in a market game," MPRA Paper 42150, University Library of Munich, Germany.
    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. 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.
    10. Wolfgang Ströbele & Holger Wacker, 1995. "The economics of harvesting predator-prey systems," Journal of Economics, Springer, vol. 61(1), pages 65-81, February.
    11. Halkos, George & Papageorgiou, George, 2008. "Extraction of non-renewable resources: a differential game approach," MPRA Paper 37596, University Library of Munich, Germany.
    12. Karl Farmer, 2000. "Intergenerational natural-capital equality in an overlapping-generations model with logistic regeneration," Journal of Economics, Springer, vol. 72(2), pages 129-152, June.
    13. Plourde, C G, 1970. "A Simple Model of Replenishable Natural Resource Exploitation," American Economic Review, American Economic Association, vol. 60(3), pages 518-522, June.
    14. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124-124.
    15. Berck, Peter, 1981. "Optimal management of renewable resources with growing demand and stock externalities," Journal of Environmental Economics and Management, Elsevier, vol. 8(2), pages 105-117, June.
    16. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-961, July-Aug..
    17. Halkos, George & Papageorgiou, George, 2012. "Simple taxation schemes on non–renewable resources extraction," MPRA Paper 40945, University Library of Munich, Germany.
    18. Smith, Vernon L, 1969. "On Models of Commercial Fishing," Journal of Political Economy, University of Chicago Press, vol. 77(2), pages 181-198, March/Apr.
    19. Bjorndal, Trond, 1987. " Production Economics and Optimal Stock Size in a North Atlantic Fishery," Scandinavian Journal of Economics, Wiley Blackwell, vol. 89(2), pages 145-164.
    20. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Renewable resources; exploitation of natural resources; optimal control; differential games;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aue:wpaper:1324. 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: (Ekaterini Glynou). General contact details of provider: http://edirc.repec.org/data/diauegr.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.