TY - JOUR
T1 - Pulse-fishing and stochastic equilibrium in the multicohort fishery
AU - Spulber, Daniel F.
N1 - Funding Information:
*I thank Wayne Shafer for valuable assistance. I also thank Robert Becker and anonymous referees for helpful suggestions. Any remaining errors are my responsibility. The support of the National Science Foundation under Grant No. SES 81-05852 is gratefully acknowledged.
PY - 1983/9
Y1 - 1983/9
N2 - 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.
AB - 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.
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U2 - 10.1016/0165-1889(83)90057-X
DO - 10.1016/0165-1889(83)90057-X
M3 - Article
AN - SCOPUS:33644564968
SN - 0165-1889
VL - 6
SP - 309
EP - 332
JO - Journal of Economic Dynamics and Control
JF - Journal of Economic Dynamics and Control
IS - C
ER -