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Real Options Analysis of Fishing Fleet Dynamics: A Test
Bosetti, Valentina; Tomberlin, David - 2004
-entry fishery. Because exit from limited-entry fisheries may be irreversible, the fisherman has an incentive to maintain the right … to fish (whether by actually fishing or by purchasing an annual license) even when the fishery is not profitable, in the … catch) real options model of the decision problem faced by an active fisherman who has the option to exit a fishery …
Persistent link: https://www.econbiz.de/10011324981
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Threshold Effects in Coral Reef Fisheries
Crépin, Anne Sophie - 2003
Coral reefs may naturally flip between coral-dominated and algae-dominated states, when species' stocks trespass some threshold levels. This essay uses a stylized model of a coral reef to show how fishing may induce flips towards more algae-dominated states. Threshold effects have consequences...
Persistent link: https://www.econbiz.de/10011325138
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A Coalition Game of the Baltic Sea Cod Fishery
Kronbak, Lone Grønbæk - 2004
The paper sets up a discrete-time, deterministic, coalition game model among the major agents exploiting the cod stock in Baltic Sea. The characteristic func-tion is constructed and the Shapley value and the nucleolus are used as one-point solution concepts. The paper identifies the problem with...
Persistent link: https://www.econbiz.de/10010321960