Abstract
This chapter investigates the optimal management of renewable resources (as typified by the fishery) and non-renewable resources (as typified by the mine). The analysis is set in a microeconomic context; the management objective is to maximise the net present value of a profit stream, given the discount rate. The analogous macroeconomic problem is treated in Chapter 4.
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© 1979 Richard Lecomber
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Lecomber, R. (1979). Fishery and Mine. In: The Economics of Natural Resources. Palgrave, London. https://doi.org/10.1007/978-1-349-86151-4_3
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DOI: https://doi.org/10.1007/978-1-349-86151-4_3
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-19141-5
Online ISBN: 978-1-349-86151-4
eBook Packages: Palgrave Social & Cultural Studies CollectionSocial Sciences (R0)