Optimal harvesting of fish stocks under a time-varying discount rate.
Optimal control theory has been extensively used to determine the optimal harvesting policy for renewable resources such as fish stocks. In such optimisations, it is common to maximise the discounted utility of harvesting over time, employing a constant time discount rate. However, evidence from hum...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
2011
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