Option value of harvesting: Theory and evidence

Marine Resource Economics

Volumn 13, Issue 2, 1998, Pages 135-142

  Li, Eric ^a  

^a Marine and Freshwater Resour Inst   (Australia)

Author keywords

Catch per unit effort; Delay; Irreversibility; Options; Uncertainty

Indexed keywords

EID: 0041790943     PISSN: 07381360     EISSN: None     Source Type: Journal    
DOI: 10.1086/mre.13.2.42629227     Document Type: Article

References (13)

1. Brealey, R.A., and S.C. Myers. 1992. Principles of Corporate Finance, 4th ed. New York: McGraw-Hill.
2. Burnham, K.P., D.R. Anderson, G.C. White, C. Brownie, and K.H. Pollock. 1987. Design and Analysis Methods for Fish Survival Experiments Based on Release-Recapture. American Fisheries Society, Monograph 5, Bethesda, MD.
3. Clark, C.W. 1990. Mathematical Bioeconomics, 2nd ed., New York: John Wiley and Sons.
4. Department of Natural Resources and Environment. 1996. Victoria, Australia: Victorian Fisheries Catch and Effort Information Bulletin, 1996.
5. Dixit, A.K. 1991. A Simplified Treatment of the Theory of Optimal Control of Brownian Motion. Journal of Economic Dynamics and Control 15: 657-73.
6. -. 1993. The Art of Smooth Pasting, Vol. 55 in Fundamentals of Pure and Applied Economics. J. Lesourne and H. Sonnenschein, eds. Chur, Switzerland: Harwood Academic Publishing.
7. Dixit, A.K., and R.S. Pindyck. 1994. Investment Under Uncertainty. Princeton NJ: Princeton University Press.
8. Hilborn, R., and C.J. Walters. 1992. Quantitative Fisheries Stock Assessment - Choice, Dynamics and Uncertainty. New York: Chapman and Hall.
9. Munro, G.R. 1979. The Optimal Management of Transboundary Resources. Canadian Journal of Economics 12: 355-76.
10. -. 1996. Approaches to the Economics of the Management of High Seas Fishery Resources: A Summary. Canadian Journal of Economics XXIX, Special Issue: April, S157-64.
11. Schnute, J. 1977. Improved Estimates from the Schaefer Production Model: Theoretical Considerations. Bulletin of Fisheries Resource Board of Canada 34(5): 583.
12. Seber, G.A.F. 1982. The Estimation of Animal Abundance and Related Parameters. New York: Oxford University Press.
13. Wallace, I.F., R.K. Lindner, and D.D. Dole. 1997. Why Harvest Efficiency Appears to Fall Over Time in the Production Functions of Fisheries. Mimeo, Department of Agricultural and Resource Economics, University of Washington.