Stabilizing employment in a fluctuating resource economy (Q1263507): Difference between revisions
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Property / author: Veijo Kaitala / rank | |||
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Property / author: Veijo Kaitala / rank | |||
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Property / MaRDI profile type: MaRDI publication profile / rank | |||
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Property / cites work: Decision and control in uncertain resource systems / rank | |||
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Property / cites work: Output feedback stabilization of uncertain dynamical systems / rank | |||
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Property / cites work: Stabilizing management of fishery resources in a fluctuating environment / rank | |||
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Property / cites work: On optimal long-term management of some ecological systems subject to uncertain disturbances† / rank | |||
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Property / cites work: Open Access and Extinction / rank | |||
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Latest revision as of 10:53, 20 June 2024
scientific article
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English | Stabilizing employment in a fluctuating resource economy |
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Stabilizing employment in a fluctuating resource economy (English)
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1990
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We consider a resource management problem in which the management objective is to minimize fluctuations in resource economics. Stabilizing management policies consist of memoryless state feedback control strategies for a class of discrete-time resource models which contain unknown but bounded fluctuations. The underlying theory is based on conditions developed for Lyapunov-type stability of sets. The design of the stabilizing policies is illustrated by a simulation example from resource economics. Specifically, employment of fishermen is stabilized by using a subsidizing and taxing policy in an open access common- property fishery in which the value of the resource and the resource level fluctuate, and where entry and exit dynamics are determined by fluctuating revenues obtained from the fishery.
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uncertain systems
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min-max Lyapunov stabilization
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guaranteed stabilization
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resource management
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memoryless state feedback control strategies
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taxing
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open access common-property fishery
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