GRAFTON, R. QUENTIN; KOMPAS, TOM; HA, PHAM VAN - In: The Economic Record 82 (2006) 259, pp. 469-480
In this paper we analysed the economic payoffs from marine reserves using a stochastic optimal control model, with a jump-diffusion process. The results show that even if the reserve and harvested populations face the same negative shocks, harvesting is optimal, the population is persistent and...