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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/47525
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| Title: | Irreversible Investment and Optimal Fisheries Management: A Stochastic Analysis |
| Authors: | Charles, Anthony T.
Munro, Gordon R. |
| Issue Date: | 1985 |
| Series/Report no.: | Marine Resource Economics
Vol. 1. No. 3 |
| Abstract: | In recent years, attention has been devoted to fishery management problems that arise because capital embodied in fishing fleets is often nonmalleable. having few if any
alternative uses. This problem of irreversible investment was analyzed by Clark et al. (1979), using a deterministic model. In reality, however, most investment decisions must be made within an uncertain environment. This paper describes recent
efforts to account for uncertainty in analyzing the problem of optimal fishery investment, where the uncertainty is caused
by stochastic variability in the resource stock from year to year. |
| URI: | http://purl.umn.edu/47525 |
| Identifiers: | 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 01, Number 3, 1985 |
| Total Pages: | 18 |
| From Page: | 247 |
| To Page: | 264 |
| Collections: | Volume 01, Number 3, 1985
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