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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Year of publication:	2004
Authors:	Koundouri, Phoebe ; Laukkanen, Marita
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	stochastic production \| fishery \| risk

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D24 - Production; Capital and Total Factor Productivity; Capacity ; Q22 - Fishery ; Q2 - Renewable Resources and Conservation; Environmental Management
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011109615