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Optimal Harvest Licensing When Harvest Success Is Uncertain

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  • Abul Maala Tanvir Hussain
  • John Tschirhart

Abstract

Optimal harvests using individual licenses are determined given that a licensee's probabilities of procuring a license and harvesting successfully are less than one. Probabilities are dependent on the resource stock and the number of licenses, and licensees benefit from the harvesting experience itself. Recreational fishing and hunting are applications. The optimum stock may be greater or less than the maximum sustained yield stock, and investing in more stock decreases licenses but increases licensees' success. The optima depend on whether the license agency views applicants as dedicated or social, where the latter are relatively more interested in procuring a license than in a successful harvest. Copyright 2010, Oxford University Press.

Suggested Citation

  • Abul Maala Tanvir Hussain & John Tschirhart, 2010. "Optimal Harvest Licensing When Harvest Success Is Uncertain," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(1), pages 125-140.
    • Handle: RePEc:oup:ajagec:v:92:y:2010:i:1:p:125-140
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    File URL: http://hdl.handle.net/10.1093/ajae/aap019
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    Cited by:

    1. Olaussen, Jon Olaf & Skonhoft, Anders, 2011. "A cost-benefit analysis of moose harvesting in Scandinavia. A stage structured modelling approach," Resource and Energy Economics, Elsevier, vol. 33(3), pages 589-611, September.
    2. Jensen, Frank & Jacobsen, Jette Bredahl & Thorsen, Bo Jellesmark, 2016. "Designing hunting regulation under population uncertainty and self-reporting," Journal of Forest Economics, Elsevier, vol. 24(C), pages 157-171.
    3. Hussain, A.M. Tanvir & Tschirhart, John, 2013. "Economic/ecological tradeoffs among ecosystem services and biodiversity conservation," Ecological Economics, Elsevier, vol. 93(C), pages 116-127.
    4. Naevdal, Eric & Olaussen, Jon Olaf & Skonhoft, Anders, 2012. "A bioeconomic model of trophy hunting," Ecological Economics, Elsevier, vol. 73(C), pages 194-205.
    5. Meyer, Kevin Michael, 2017. "Three essays on environmental and resource economics," ISU General Staff Papers 201701010800006585, Iowa State University, Department of Economics.

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