Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations

In this paper we address the implications of production risk for controlling fishing effort in a regulated fishery in a framework where fishers maximize expected utility of profit. We focus on controlling effort through season closures that limit the number of days the fishery is open to harvest each year.

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Authors:	Koundouri, Phoebe ; Laukkanen, Marita
Institutions:	Department of International and European Economic Studies, Athens University of Economics and Business (AUEB)
Subject:	stochastic production \| fishery \| risk

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Extent:	application/pdf
Series:	DEOS Working Papers.
Type of publication:	Book / Working Paper
Notes:	Published in Econometrics Informing Natural Resources Management Selected Empirical Analyses Number 0403
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010859441