| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28732 |
| 来源ID | Working Paper 28732 |
| Optimal Harvest with Multiple Fishing Zones, Endogenous Price and Global Uncertainty | |
| Jose Pizarro; Eduardo S. Schwartz | |
| 发表日期 | 2021-05-03 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | The literature on the optimal harvest of fisheries has concentrated on a single fishing area with biomass uncertainty and to a lesser degree also with price uncertainty. We develop and implement a stochastic optimal control approach to determine the harvest that maximizes the value of a fishery participating in a global market, where all the considered harvesting zones sell their production. This market is characterized by an inverse demand function, which combines an exogenous demand shock and the aggregate harvesting of all zones. Accordingly, a fishery's harvest will be affected by the global demand shocks and the harvesting in all the competing zones through the global selling price. In addition, we decompose the biomass uncertainty into local and global biomass shocks. Through global biomass shocks, the model provides enough flexibility to acknowledge for correlation in the biomass shocks faced by the multiple perhaps adjacent areas. When we compare our global framework with an alternative where the individual zones are aggregated into a single optimizing fishery we find that competition will increase the global harvest and consequently reduced the resource price. |
| 主题 | Financial Economics ; Financial Markets ; Corporate Finance ; Environmental and Resource Economics ; Renewable Resources |
| URL | https://www.nber.org/papers/w28732 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586406 |
| 推荐引用方式 GB/T 7714 | Jose Pizarro,Eduardo S. Schwartz. Optimal Harvest with Multiple Fishing Zones, Endogenous Price and Global Uncertainty. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28732.pdf（4275KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
