Extensive land and market reform in Vietnam has resulted in dramatic increases in rice output and incomes. This is illustrated with measures of total factor productivity, net incomes, and net returns in rice production from 1985 to 2006. Results show considerable gains in major rice growing...

This paper uses data from an actual fishery to construct a tractable, dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate, and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of...

Using data from what was once one of the world’s largest capture fisheries, the northern cod fishery, the economic value of a marine reserve is calculated using a stochastic optimal control model with a jump-diffusion process. Counterfactual analysis shows that with a stochastic environment an...