Abstract.
This paper addresses the following hitherto unstudied question in renewable resource management: How should a resource manager set the temporal control optimally for renewable resources such as rangelands and fisheries that are managed with spatial and temporal controls? We use a dynamic and stochastic framework to first derive the resource manager's long run average net cost function. We then demonstrate how the temporal control can be chosen to minimize this objective function.
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We thank George Christakos and two anonymous referees for their comments on a previous version of this paper. Batabyal acknowledges financial support from the Gosnell endowment at RIT. The usual disclaimer applies.
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Batabyal, A., Beladi, H. On the choice of the optimal temporal control in renewable resource management. Stochastic Environmental Research and Risk Assessment 16, 325–332 (2002). https://doi.org/10.1007/s00477-002-0102-8
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DOI: https://doi.org/10.1007/s00477-002-0102-8