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Dynamic modeling of pulse fishing: A game theoretic approach

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  • 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
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    References listed on IDEAS

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    More about this item

    Keywords

    Renewable resources; exploitation of natural resources; optimal control; differential games;
    All these keywords.

    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

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