The paper examines how an easy-to-apply optimal feedback rule can be used to solve for optimal levels of exploitation of a renewable resource. Using data from Canada's northern cod fishery, the optimal feedback rule is used to derive optimal levels of exploitation for the years 1962-91 under...

The paper examines howan easy-to-apply optimal feedback rule can be used to solve for optimal levels of exploitation of a renewable resource. Using data from Canada's northern cod fishery, the optimal feedback rule is used to derive optimal levels of exploitation for the years 1962–91 under...

Many ocean fisheries are subject to a fundamental economic problem generally referred to as the common property problem. The common property problem manifests itself as excessive fishing fleets and fishing effort, depressed fish stocks and little or no profitability of the fishing activity,...

The economic efficiencies of the Danish, Icelandic, and Norwegian cod fisheries are examined. For this purpose, nonlinear aggregate models of these fisheries are constructed. Comparing the calculated optimal harvest and biomass quantities with the actual fisheries provides a measure of the...

The economic efficiencies of the Danish, Icelandic, and Norwegian cod fisheries are examined. For this purpose, nonlinear aggregate models of these fisheries are constructed. Comparing the calculated optimal harvest and biomass quantities with the actual fisheries provides a measure of the...

Many ocean fisheries are subject to a fundamental economic problem generally referred to as the common property problem. The common property problem manifests itself as excessive fishing fleets and fishing effort, depressed fish stocks and little or no profitability of the fishing activity,...