Time Restrictions in Natural Resource Management: A Dynamic and Stochastic Analysis
21 Pages Posted: 17 Apr 2003
There are 2 versions of this paper
Time Restrictions in Natural Resource Management: A Dynamic and Stochastic Analysis
Time Restrictions in Natural Resource Management: A Dynamic and Stochastic Analysis
Date Written: 2003
Abstract
This paper provides a theoretical analysis of time restrictions in the context of natural resource management in North America. The economic inefficiencies arising from the use of time restrictions to protect natural resources have been well documented by researchers. We first show that in the presence of uncertainty about the evolution of the resource stock, time restrictions can lead to the collapse of the resource that is sought to be protected. Given this finding, in the second part of the paper, we discuss an approach to natural resource management under uncertainty in which time restrictions are used to maximize the likelihood that a particular resource will not collapse in the long run.
Keywords: Management, Natural Resources, Time Restrictions, Uncertainty
JEL Classification: Q20, D81
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
On the Choice between the Stocking Rate and Time in Range Management
By Amitrajeet A. Batabyal, Basudeb Biswas, ...
-
Rangeland Management Under Uncertainty: A Conceptual Approach
-
On the Choice of the Optimal Temporal Control in Renewable Resource Management
-
The Steady State Distribution of Animals in Short Duration Grazing
-
Quantifying the Transient Response of Ecological-Economic Systems to Perturbations
-
By Peter Ho
-
A Theoretical Analysis of Season Length Restrictions in Fisheries Management
By Qing Xu and Amitrajeet A. Batabyal
-
An Upper Bound for the Transient Resilience of a Rangeland that is Managed Using Cell Grazing