|
AgEcon Search >
Marine Resource Economics >
Volume 13, Number 2, 1998 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/28227
|
| Title: | OPTION VALUE OF HARVESTING: THEORY AND EVIDENCE |
| Authors: | Li, Eric A.L. |
| Issue Date: | 1998 |
| Abstract: | Real options analysis shows that fishery harvesting becomes more conservative, and catch efficiency is raised, when exploitation is subject to irreversibility, uncertainty, and delay for a cooperative profit-maximizing fleet. With Rock Lobster catch and effort data from Fisheries Victoria of the Department of Natural Resources and Environment in Australia, the options-augmented surplus-yield model is tested and compared with the performance of its conventional profit-maximizing and biological maximum-sustainable-yield counterparts. |
| URI: | http://purl.umn.edu/28227 |
| Institution/Association: | Marine Resource Economics>Volume 13, Number 2, 1998 |
| Total Pages: | 8 |
| Language: | English |
| From Page: | 135 |
| To Page: | 142 |
| Collections: | Volume 13, Number 2, 1998
|
Recommend this item
All items in AgEcon Search are protected by copyright.
|
