Dynamic model of fishing: The relationship to conjectural variations

DOI10.1016/0095-0696(85)90002-6MaRDI QIDQ581204zbMATH OpenOpenAlexFDO

Authors David Levhari, Leonard J. Mirman, Morton I. Kamien

Publication date 1985

Published in Journal of Environmental Economics and Management (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0095-0696(85)90002-6

zbMATH Keywords

conjectural variationsduopolyfishingfree entry competitionmonopolyperfect competition

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Economic growth models (91B62) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

Review text

The relationship between conjectural variations and market structure in the static and dynamic model of fishing is investigated. Four possible market structures are considered: free entry competition, perfect competition, monopoly and duopoly. It is shown that various assumptions on conjecture variations lead to different conclusions regarding market behaviour. The assumptions about the conjectural variations, which lead to a perfectly competitive solution, to monopoly, to open loop duopoly, or to closed loop duopoly, are presented.

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(8)

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