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Marine Resource Economics >
Volume 03, Number 2, 1986 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/47834
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| Title: | Stochastic Steady-State Replenishable Resource Management Policies |
| Authors: | Smith, J. Barry |
| Issue Date: | 1986 |
| Series/Report no.: | Marine Resource Economics
Vol. 3 No. 2 |
| Abstract: | The purpose of this paper is to investigate the generalization of deterministic golden rule results to the case of resource uncertainty. It is shown that within a diffusion framework, the optimal steady-state management policy is equivalent
to a management policy that is optimal outside the stochastic steady state. The results contained in this paper provide a useful link between steady-state optimal management policies in the deterministic resource economics and biology literatures and the quickly developing stochastic resource literature. |
| URI: | http://purl.umn.edu/47834 |
| Identifiers: | 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 03, Number 2, 1986 |
| Total Pages: | 14 |
| From Page: | 155 |
| To Page: | 168 |
| Collections: | Volume 03, Number 2, 1986
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| 8175692.pdf | | 578Kb | PDF | View/Open |
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