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economics of renewable resources. In the 20th century the question of the use of common property resources has initially been … increased awareness to the "tragedy of the commons" and Elenor Ostrom's 2009 nobel prize in economics finally underlined the …
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Optimal harvesting of prey in a predator–prey ecosystem is studied under the condition that the existence of the predator has value. Predators (birds) and humans (fishers) compete for prey (shellfish). The behavior of the system is studied and conditions for optimal control are deduced....
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