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Optimal Catch from Fisheries

  • Matthias Ruth
  • Bruce Hannon
Chapter
Part of the Modeling Dynamic Systems book series (MDS)

Abstract

This is the ultimate renewable resource model. We determine the optimal path of catching fish, starting with an undepleted fishery and reducing it to a sustainable steady state. We model the effects of a catch tax on the optimal development path. The tax is one way in which competitive fishers could be coaxed into a sustainable fishery.

Keywords

Average Cost Maximum Sustainable Yield Stock Size Firm Owner Initial Price 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.University of MarylandCollege ParkUSA
  2. 2.University of IllinoisUrbanaUSA

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