Internal Prices and Optimal Exploitation of Natural Resources

Vitaly G. Il’ichev and Dmitry B. Rokhlin
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Vitaly G. Il’ichev: Southern Scientific Centre of Russian Academy of Sciences, 344006 Rostov-on-Don, Russia
Dmitry B. Rokhlin: I.I. Vorovich Institute of Mathematics, Mechanics and Computer Sciences, Regional Scientific and Educational Mathematical Center, Southern Federal University, 344090 Rostov-on-Don, Russia

Mathematics, 2022, vol. 10, issue 11, 1-14

Abstract: Within the framework of traditional fishery management, we propose an interpretation of natural resource prices. It leads to an economic taxation mechanism based on internal prices and reduces a complex problem of optimal long-term exploitation to a sequence of one-year optimization problems. Internal prices obey natural, economic patterns: the increase in resource amount diminishes taxes, and the rise in the number of “fishers” raises taxes. These taxes stimulate cooperative agent behavior. We consider new problems of optimal fishing, taking into account an adaptive migration of the fish population in two regions. To analyze these problems, we use evolutionary ecology models. We propose a paradoxical method to increase the catch yield through the so-called fish “luring” procedure. In this case, a kind of “giveaway” game occurs, where the region with underfishing becomes more attractive for fish and for catches in the future.

Keywords: long-term optimization; dynamic programming; internal prices; taxes (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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