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Marine Protected Areas are considered as a hedging tool against some of the uncertainties that trouble many fisheries today. Such tools are always connected with a cost; a premium. An optimal harvest rule is combined with a protected area to manage a fishery. The model ignores uncertainty, and...
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In commercial fisheries, stock collapse is an intrinsic problem caused by overexploitation or due to pure stochasticity. To analyze the risk of stock collapse, we apply a relatively simple Monte Carlo approach which can capture complex stock dynamics. We use an economic model with downward...
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