Maximum economic yield

Analytical results for steady-state values of the biomass that maximises the sum of inter-temporal economic profits (dynamic bMEY) are derived in terms of a generalised harvesting function. The conditions under which dynamic bMEY exceeds the biomass that maximises the sustained yield (bMSY) are evaluated under a range of conditions including when the discount rate exceeds the intrinsic growth rate, with a variable stock effect, technological change, and from an increase in the cost per unit of effort. The findings show that dynamic bMSY provides both a sustainable and profitable management target under a wide range of parameter values.


Issue Date:
2010
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/162008
Published in:
Australian Journal of Agricultural and Resource Economics, Volume 54, Issue 3
Page range:
273-280
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-27

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