dc.contributor.author | Nøstbakken, Linda | |
dc.date.accessioned | 2006-06-23T11:19:43Z | |
dc.date.available | 2006-06-23T11:19:43Z | |
dc.date.issued | 2004-11 | |
dc.identifier.issn | 1503-2140 | |
dc.identifier.uri | http://hdl.handle.net/11250/166480 | |
dc.description.abstract | We develop a bioeconomic model of a fishery subject to stock uncertainty and price uncertainty. With a linear control model, the optimal harvest policy is a bang-bang approach to the optimal stock level, where one harvests either at minimum or full capacity. It is assumed that changing between the fishing and no-fishing regimes are associated with fixed adjustment costs. In this case we show that there are two switching curves in stock-price space, one for entering and one for leaving the fishery. Numerical methods are used to characterize the optimal switching policy for the fishery | en |
dc.format.extent | 147355 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | eng | en |
dc.publisher | SNF | en |
dc.relation.ispartofseries | Working paper | en |
dc.relation.ispartofseries | 2004:52 | en |
dc.title | Regime switching in a fishery with stochastic stock and price | en |
dc.type | Working paper | en |