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Marine Resource Economics >
Volume 01, Number 3, 1985 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/47517
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| Title: | A Discrete Model of Replenishable Resource Management Under Uncertainty |
| Authors: | Smith, J. Barry |
| Issue Date: | 1985 |
| Series/Report no.: | Marine Resource Economics
Vol. 1. No. 3 |
| Abstract: | This paper examines issues in the management
of replenishable resources under uncertainty. The stochastic resource dynamics are given by the discrete-time counterpart of the classic logistic growth model. The use of discrete-time stochastic dynamics allows for a more general characterization of growth uncertainty than is possible with continuous-time models.
Given a general specification of the resource management problem, necessary and sufficient conditions for the optimal
management policy are derived. Many important properties of the management policy are derived and comparisons are made
with the deterministic counterpart policy. An example serves to illustrate many of the results of the analysis. |
| URI: | http://purl.umn.edu/47517 |
| Identifiers: | 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 01, Number 3, 1985 |
| Total Pages: | 26 |
| From Page: | 283 |
| To Page: | 308 |
| Collections: | Volume 01, Number 3, 1985
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| 8175634.pdf | | 4877Kb | PDF | View/Open |
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