Nonlinear costs and optimal fleet capacity in deterministic and stochastic fisheries (Q1076640)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Nonlinear costs and optimal fleet capacity in deterministic and stochastic fisheries |
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Nonlinear costs and optimal fleet capacity in deterministic and stochastic fisheries (English)
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1985
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The paper develops a new bio-economic model comparable to the author's earlier studies [see Can. J. Fish. Aquat. Sci. 40, 2069-2091 (1983)]. In this model, inclusion is made for effects of depreciation, discounting and randomness on the optimal fleet capacity. Also fish stock dynamics are simplified by assuming that the current stock sizes are independent of past escapements. A penalty function incorporating the opportunity cost of escapement is included. Optimal policies are determined using classical calculus and two examples are given as illustrations.
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optimal fisheries investment strategies
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deterministic and
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stochastic environments
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nonlinear fishing costs
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bio-economic model
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depreciation
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discounting
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randomness
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optimal fleet capacity
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fish stock dynamics
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opportunity cost of escapement
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Optimal policies
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