Pulse-fishing and stochastic equilibrium in the multicohort fishery

Daniel F. Spulber*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

Pulse-fishing harvesting policies are shown to be optimal for a competitive firm managing a multicohort fishery subject to environmental disturbances. Selective harvesting and non-selective proportional harvesting policies are examined. It is shown that pulse-fishing implies convergence to a unique, invariant probability distribution on cohort biomass levels and environmental disturbances that is independent of the initial state of the system.

Original languageEnglish (US)
Pages (from-to)309-332
Number of pages24
JournalJournal of Economic Dynamics and Control
Volume6
Issue numberC
DOIs
StatePublished - Jan 1 1983

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization
  • Applied Mathematics

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