An Economic Mechanism to Regulate Multispecies Fisheries
We study the management of a multispecies fishery, exploited under a non-selective harvesting technology. We construct an economic mechanism to regulate the fishery. Under a large class of models, capable of accounting for imperfect competition, congestion externalities, pro-social motivations and/or resource amenities, we show that any (stationary Markovian) Nash equilibrium of the differential game induced by our economic mechanism implements an optimal utilization of the resource. Using a specification of the general model, which adapts Clemhout and Wan (1985) and can be solved explicitly, we exhibit a (stationary Markovian) Nash equilibrium of the differential game, proving existence of (stationary Markovian) Nash equilibria within this environment.
|Date of creation:||2012|
|Contact details of provider:|| Postal: Avenue Léon Duguit, 33608 Pessac Cedex|
Phone: +33 (0)18.104.22.168.75
Fax: +33 (0)22.214.171.124.47
Web page: http://gretha.u-bordeaux4.fr/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:grt:wpegrt:2012-23. 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: (Emmanuel Petit)
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.