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Optimal Exploitation of a Biomass Confronted with the Threat of Collapse

Author

Listed:
  • Eirik S. Amundsen
  • Trond Bjørndal

Abstract

This paper examines how to harvest a biomass exposed to a potential collapse at an uncertain date. A specific recovery effect is identified which may be positive or negative. In general, the effect on the optimal biomass is indeterminate and depends upon the failure rate, the expected collapse, and the function relating the extent of the collapse to the size of the precollapse stock. Apart from balanced harvest strategies, even extreme strategies of total extinction or extreme precaution may be optimal in some cases. The model is applied to the North Sea herring fishery.

Suggested Citation

  • Eirik S. Amundsen & Trond Bjørndal, 1999. "Optimal Exploitation of a Biomass Confronted with the Threat of Collapse," Land Economics, University of Wisconsin Press, vol. 75(2), pages 185-202.
    • Handle: RePEc:uwp:landec:v:75:y:1999:i:2:p:185-202
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    Citations

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    Cited by:

    1. Eirik S. Amundsen & Frank Jensen, 2016. "Drought and Groundwater Management," IFRO Working Paper 2016/04, University of Copenhagen, Department of Food and Resource Economics.
    2. Frank Jensen & Rasmus Nielsen & Henrik Meilby, 2023. "Regulation of aquaculture production," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 25(2), pages 161-204, April.
    3. Eirik S. Amundsen, 2022. "Searching for a "Golden Rule" of Economic Regulation of an Infectious Disease," CESifo Working Paper Series 9607, CESifo.
    4. Eirik S. Amundsen, 2021. "Searching for a “Golden Rule” of economic regulation of an infectious disease," IFRO Working Paper 2021/08, University of Copenhagen, Department of Food and Resource Economics.
    5. Amundsen, Eirik Schrøder & Jensen, Frank, 2016. "Drought and groundwater management," Working Papers in Economics 05/16, University of Bergen, Department of Economics.
    6. Eirik S. Amundsen & Frank Jensen, 2016. "Drought and Groundwater Management," CESifo Working Paper Series 5968, CESifo.

    More about this item

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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