In a dynamic bio-economic multi-cohort analysis of fishing for a long lived species there can be a significant terminal value problem. The way this problem is dealt with can have a significant bearing on optimal policy recommendations. In this study, a bio-economic model of the Southern Bluefin...

With the increase in cost of surface water, groundwater extraction for irrigation has become more competitive. Due to the interdependence of different water resources in a catchment, the management of all water resources should be integrated. An illustrative model is formulated of the dynamic...