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Optimal management of renewable resources with Darwinian selection induced by harvesting

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  • Guttormsen, Atle G.
  • Kristofersson, Dadi
  • Nævdal, Eric

Abstract

We present a bioeconomic analysis of the optimal long-term management of a genetic resource in the presence of selective harvesting. It is assumed that individuals possessing a particular gene have a lower natural mortality rate and are more valuable to capture. Highly selective harvesting may cause such a gene to lose its fitness advantage, and hence change the evolutionary path of the species. Results indicate that in a zero-cost harvesting regime, the decision to preserve the valuable gene depends on the natural rate of selection against less valuable individuals and the interest rate. On the other hand, the decision to let the less valuable gene become a significant fraction of the genes depends only on biological parameters. If marginal costs are positive, it is never optimal to let a valuable gene become extinct. Further, for some parameter values, the system exhibits multiple equilibriums. Therefore, optimal regulation may depend on initial conditions.

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  • Guttormsen, Atle G. & Kristofersson, Dadi & Nævdal, Eric, 2008. "Optimal management of renewable resources with Darwinian selection induced by harvesting," Journal of Environmental Economics and Management, Elsevier, vol. 56(2), pages 167-179, September.
    • Handle: RePEc:eee:jeeman:v:56:y:2008:i:2:p:167-179
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    3. Nævdal, Eric & Skonhoft, Anders, 2018. "New insights from the canonical fisheries model – Optimal management when stocks are low," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 125-133.
    4. Yajie Liu & Jon Olaf Olaussen & Anders Skonhoft, 2011. "When a Fish is a Fish: The Economic Impacts of Escaped Farmed Fish," Working Paper Series 12011, Department of Economics, Norwegian University of Science and Technology.
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    7. Johannus Janmaat, 2012. "Fishing in a Shallow Lake: Exploring a Classic Fishery Model in a Habitat with Shallow Lake Dynamics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(2), pages 215-239, February.
    8. Naevdal, Eric & Olaussen, Jon Olaf & Skonhoft, Anders, 2012. "A bioeconomic model of trophy hunting," Ecological Economics, Elsevier, vol. 73(C), pages 194-205.
    9. Eric Sjöberg, 2015. "Pricing on the Fish Market--Does Size Matter?," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 277-296.
    10. Florian Diekert, 2012. "Growth Overfishing: The Race to Fish Extends to the Dimension of Size," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 52(4), pages 549-572, August.
    11. Faig, Amanda, 2015. "The economic gains to accounting for fishery induced evolution," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205623, Agricultural and Applied Economics Association.
    12. Anders Skonhoft & Yajie Liu & Ola H. Diserud & Kjetil Hindar, 2011. "An Ecological-Economic Model on the Effects of Interactions between Escaped Farmed and Wild Salmon (Salmo salar)," Working Paper Series 12111, Department of Economics, Norwegian University of Science and Technology.
    13. Michael R. Springborn & Amanda Faig & Allison Dedrick & Marissa L. Baskett, 2020. "Beyond Biomass: Valuing Genetic Diversity in Natural Resource Management," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(2), pages 607-624, March.
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