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Optimal Exploitation of a Biomass Confronted with the Threat of Collapse

Author

Listed:
  • Amundsen, E.S.
  • Bjorndal, T.

Abstract

This paper examines how to harvest a biomass exposed to a potential collapse at an uncertain date. A specific recovery effect is identified which may be positive or negative. In general, the effect on the optimal biomass is indeterminate and depends upon the failure rate, the expected collapse, and the function relating the extent of the collapse to the size of the precollapse shock.

Suggested Citation

  • Amundsen, E.S. & Bjorndal, T., 1999. "Optimal Exploitation of a Biomass Confronted with the Threat of Collapse," Norway; Department of Economics, University of Bergen 193, Department of Economics, University of Bergen.
  • Handle: RePEc:fth:bereco:193
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    Cited by:

    1. Eirik S. Amundsen & Frank Jensen, 2016. "Drought and Groundwater Management," IFRO Working Paper 2016/04, University of Copenhagen, Department of Food and Resource Economics.
    2. Amundsen, Eirik Schrøder & Jensen, Frank, 2016. "Drought and groundwater management," Working Papers in Economics 05/16, University of Bergen, Department of Economics.
    3. Eirik S. Amundsen & Frank Jensen, 2016. "Drought and Groundwater Management," CESifo Working Paper Series 5968, CESifo Group Munich.

    More about this item

    Keywords

    ENVIRONMENT ; BIOMASS;

    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

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