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Dynamic modeling is general and recently the most interesting perspective to solve a dynamic economic problem based on Pontryagin’s maximum principle. Moreover traditional economic theory, up to the middle of twentieth century, builds up the production functions regardless the inputs’...
Persistent link: https://www.econbiz.de/10008534554
Dynamic modeling is general and recently the most interesting perspective to solve a dynamic economic problem based on Pontryagin's maximum principle. Moreover traditional economic theory, up to the middle of twentieth century, builds up the production functions regardless the inputs' scarcity....
Persistent link: https://www.econbiz.de/10009144244
This note deals with a harvesting model for a single stock fishery. In the case of small pelagic fish it seems reasonable to consider harvest functions depending nonlinearly on fishing effort and on fish stock. Empirical evidence about these fish species suggests that marginal catch does not...
Persistent link: https://www.econbiz.de/10008465956
Persistent link: https://www.econbiz.de/10014454726