An optimising model is developed to determine the .sequence of total allowable catches of western mackerel which would result in the maximum present value of the stream of annual rents. It is found that the optimal steady state fishing mortality would be one half to one third of recent levels....

Abstract It is pervasively argued that the equilibrium outcome for an open-access fishery in which harvesting cost is inversely related to fish stock is inefficient, with complete dissipation of within-season rents. However, some argue instead that within-season rents are maximised. Conditions...

Recent increases in the harvests of southern bluefin tuna, particularly by Australian fishermen, have led to the recognition that the fishery is overexploited. A model is developed to examine the effects that quotas on Australian and Japanese harvesting would have on economic welfare and on...

Farmers are faced with many decision problems in crop and livestock production which are multistage and stochastic. There have been many applications of dynamic programming (DP) to such decision problems, many primarily for illustrative purposes. It is argued that the advent of farmer access to...

The consequences of carryover for the optimal application of fertilizer are considered using dynamic programming. The conclusions are relevant for the further problem of deciding how many grain crops to harvest from grain sorghum plants grown in a tropical environment. Dynamic programming is...

Papua New Guinea has major ex situ field collections of plant genetic material in its major staple food crops (aibika, banana, cassava, sago, sweet potato, taro, yams). The PNG Government has become concerned at the cost of maintaining these collections. With limited germplasm conservation...