On the Choice of the Optimal Temporal Control in Renewable Resource Management

16 Pages Posted: 11 Dec 2001

See all articles by Amitrajeet A. Batabyal

Amitrajeet A. Batabyal

Rochester Institute of Technology

Hamid Beladi

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

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Abstract

This paper addresses the following hitherto unstudied question in renewable resource management: How should a resource manager set the temporal control optimally for renewable resources such as rangelands and fisheries that are managed with spatial and temporal controls? We use a dynamic and stochastic framework to first derive the resource manager's long run average net cost function. We then demonstrate how the temporal control can be chosen to minimize this objective function.

Keywords: Optimal Management, Renewable Resource, Spatial Control, Temporal Control

JEL Classification: Q29, D81

Suggested Citation

Batabyal, Amitrajeet A. and Beladi, Hamid, On the Choice of the Optimal Temporal Control in Renewable Resource Management. Available at SSRN: https://ssrn.com/abstract=293640 or http://dx.doi.org/10.2139/ssrn.293640

Amitrajeet A. Batabyal (Contact Author)

Rochester Institute of Technology ( email )

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Hamid Beladi

University of Texas at San Antonio - College of Business - Department of Economics ( email )

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