Uncertain Biomass Shift and Collapse: Implications for Harvest Policy in the Fishery
This paper addresses uncertain biomass shifts in renewable resources. A biomass shift occurs when a dominant renewable resource stock collapses and its ecosystem niche is filled by a replacement species which increases in abundance after the initial collapse. This paper develops a bioeconomic model for a fishery subject to random biomass shift. Optimal policy for three causes of biomass shift-environmental perturbation, overfishing, and a combination of these two factors-is derived and compared to optimal policy when the risk of biomass shift is not present. For each cause of biomass shift, the model allows for a valued and non-valued replacement species.
Year of publication: |
1996
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Authors: | Johnston, Robert J. ; Sutinen, Jon G. |
Published in: |
Land Economics. - University of Wisconsin Press. - Vol. 72.1996, 4
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Publisher: |
University of Wisconsin Press |
Saved in:
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