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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

Abstract: 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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http://wpa.deos.aueb.gr/docs/Phoebe_Marita.pdf First version (application/pdf)

Related works:
Working Paper: Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations (2004) Downloads
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