Fishery regulation with harvest uncertainty.

L. J. Mirman, D. F. Spulber

Research output: Contribution to journalArticle

9 Scopus citations

Abstract

Harvesting of fish is subject to considerable technological uncertainty due to the constant migration of fish populations and the difficulties involved in locating the stock of fish. Even with the sophisticated search procedures employed in commercial fishing, the potential yield remains a random variable, ie the yield-effort relationship is stochastic. The optimal regulation of a fishery subject to harvest uncertainty is considered. The unregulated free access fishery and socially optimal fishery are studied in turn.-from Authors

Original languageEnglish (US)
Pages (from-to)731-746
Number of pages16
JournalInternational Economic Review
Volume26
Issue number3
DOIs
StatePublished - Jan 1 1985

ASJC Scopus subject areas

  • Economics and Econometrics

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