Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations
Phoebe Koundouri () and
Marita Laukkanen ()
No 403, DEOS Working Papers from Athens University of Economics and Business
In this paper we address the implications of production risk for controlling fishing effort in a regulated fishery in a framework where fishers maximize expected utility of profit. We focus on controlling effort through season closures that limit the number of days the fishery is open to harvest each year.
Keywords: stochastic production; fishery; risk (search for similar items in EconPapers)
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Published in Econometrics Informing Natural Resources Management Selected Empirical Analyses
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Working Paper: Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations (2004)
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Persistent link: http://EconPapers.repec.org/RePEc:aue:wpaper:0403
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