Dynamic modeling of pulse fishing: A game theoretic approach
George Halkos () and
George Papageorgiou ()
No 1324, DEOS Working Papers from Athens University of Economics and Business
This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards a twoÃƒÂ¢Ã¯Â¿Â½Ã¯Â¿Â½state model in which harvesting equipment is treated as a stock variable. As a consequence of this extension, equilibrium dynamics with bifurcations and limit cycles occur. We also discuss conflicts as a game with two types of players involved: the traditional fishermen armed with the basic equipment and the heavy equipment users. Both players have a common depletion function, considered as harvesting, which is dependent together on personal effort and on intensity of equipmentÃƒÂ¢Ã¯Â¿Â½Ã¯Â¿Â½s usage.
Keywords: Renewable resources; exploitation of natural resources; optimal control; differential games (search for similar items in EconPapers)
JEL-codes: C61 C62 Q32 (search for similar items in EconPapers)
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Working Paper: Dynamic modeling of pulse fishing: A game theoretic approach (2013)
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