Rocha, José María Da; Mato Amboage, Rosa - Departamento de Fundamentos del Análisis Económico … - 2014
This paper explores the benefits of including age-structure in the control rule (HCR) when decision makers regard their (age-structured) models as approximations. We find that introducing age structure into the HCR reduces both the volatility of the spawning biomass and the yield. Although at a...