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Fisheries Instrument Choice under Uncertainty

Kompas, Thomas; Che, Nhu-Tuong; Grafton, Quentin


This paper uses data from an actual fishery to construct a tractable, dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate, and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of instrument choice between a total harvest control and a total effort control under uncertainty, an original method to evaluate the tradeoffs between profits and other criteria in a dynamic context, and insights...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Land Economics
DOI: 10.3368/le.84.4.652


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