Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations

Phoebe Koundouri () and Marita Laukkanen

MPRA Paper from University Library of Munich, Germany

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)
JEL-codes: D24 Q2 Q22 (search for similar items in EconPapers)
Date: 2004
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https://mpra.ub.uni-muenchen.de/41912/1/MPRA_paper_41912.pdf original version (application/pdf)

Related works:
Working Paper: Stochastic Production in a Regulated Fishery:The Importance of Risk Considerations (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41912

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