Abstract

http://ssrn.com/abstract=278699
 
 

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On the Optimal Management of a Class of Aquatic Ecological-Economic Systems


Amitrajeet A. Batabyal


Rochester Institute of Technology

Hamid Beladi


University of Texas at San Antonio - College of Business - Department of Economics



Abstract:     
Our paper analyzes aquatic ecological-economic systems such as the Chesapeake Bay. The stability of such ecological-economic systems is contingent on the successful functioning of a small number of generalist species in a broad range of economic and ecological conditions. We first delineate the persistence of such systems. We then study the intertemporal and the stochastic aspects of the resource allocation problem faced by the manager of an aquatic ecological-economic system. Our manager wishes to allocate her scarce financial resources optimally among economic activities and the maintenance of the generalist species of the aquatic ecological-economic system.

Number of Pages in PDF File: 19

Keywords: Aquatic Ecological-Economic System, Chesapeake Bay, Optimal Management, Stochastic Control

JEL Classification: Q20, D81

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Date posted: August 2, 2001  

Suggested Citation

Batabyal, Amitrajeet A. and Beladi, Hamid, On the Optimal Management of a Class of Aquatic Ecological-Economic Systems. Available at SSRN: http://ssrn.com/abstract=278699 or http://dx.doi.org/10.2139/ssrn.278699

Contact Information

Amitrajeet A. Batabyal (Contact Author)
Rochester Institute of Technology ( email )
92 Lomb Memorial Drive
Rochester, NY 14623-5604
United States
585-475-2805 (Phone)
585-475-5777 (Fax)
HOME PAGE: http://www.rit.edu/~aabgsh/
Hamid Beladi
University of Texas at San Antonio - College of Business - Department of Economics ( email )
6900 North Loop 1604 West
P.O. Box 5636
San Antonio, TX 78249
United States
210-458-7038 (Phone)
210-458-7040 (Fax)
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References:  26
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