Optimal Escapement Levels on Renewable Resource Management under Process Uncertainty : Some Implications of Convex Unit Harvest Cost

• Kotani Koji

  Graduate School of International Relations, International University of Japan

• Kakinaka Makoto

  Graduate School of International Relations, International University of Japan

• Matsuda Hiroyuki

  Faculty of Environment and Information Sciences, Yokohama National University

抄録

The terminology of renewable resource management becomes to span not only prototype harvesting problems but also various new types such as invasive species one. In all of these problems, process uncertainty of stock growth associated with environmental variability is one of the critical factors that significantly affects the management efficiency. While it may seem that a series of past researches fully examine optimal policy under process uncertainty, the case of convex unit harvest costs has not been fully characterized yet. Focusing on such a case, this paper addresses how the degree of process uncertainty affects optimal escapement level. The result suggests that optimal escapement level does not monotonically vary with process uncertainty. In many plausible cases, it should be adapted in a U-shaped manner, which is in contrast with the conventional wisdom.

収録刊行物

• Economic analysis & policy series

  Economic analysis & policy series 8 1-14, 2008-04

  国際大学

キーワード

• renewable resource management
• constant escapement rule
• process uncertainty
• convex unit harvest cost

詳細情報

• CRID: 1573387452124752512
• NII論文ID: 110006612698
• NII書誌ID: AA12219099
• 本文言語コード: en
• データソース種別:
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