Optimal management of multiple renewable resource stocks: An application to Minke whales

Richard D. Horan; James S. Shortle

doi:10.1023/A:1008261710951

Optimal management of multiple renewable resource stocks: An application to Minke whales

Richard D. Horan, James S. Shortle

Agricultural Economics, Sociology and Education

Research output: Contribution to journal › Article › peer-review

22 Scopus citations

Abstract

Most bioeconomic models of efficient renewable resource management are constructed for a single harvesting ground. A bioeconomic model is developed in this paper to study the optimal management of renewable resources that are found in spatially distinct harvesting grounds. The model is applied to Minke whale management. Important inter-regional substitution effects are shown to exist. In addition, comparison with previous studies shows that multiple stock management is necessary for efficient management. Finally, the current Minke whale moratorium is shown to be inefficient unless significant nonmarket values exist.

Original language	English (US)
Pages (from-to)	435-458
Number of pages	24
Journal	Environmental and Resource Economics
Volume	13
Issue number	4
DOIs	https://doi.org/10.1023/A:1008261710951
State	Published - 1999

All Science Journal Classification (ASJC) codes

Economics and Econometrics
Management, Monitoring, Policy and Law

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1023/A:1008261710951

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Optimal management of multiple renewable resource stocks: An application to Minke whales

Abstract

All Science Journal Classification (ASJC) codes

UN SDGs

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