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

Stochastic Environmental Research and Risk Assessment, Vol. 16, No. 5, pp. 325-332, 2002

Posted: 17 Oct 2002

See all articles by Amitrajeet A. Batabyal

Amitrajeet A. Batabyal

Rochester Institute of Technology (RIT) - Department of Economics

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.

Note: This is a description of the paper and not the actual abstract.

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. Stochastic Environmental Research and Risk Assessment, Vol. 16, No. 5, pp. 325-332, 2002, Available at SSRN: https://ssrn.com/abstract=341681

Amitrajeet A. Batabyal (Contact Author)

Rochester Institute of Technology (RIT) - Department of Economics ( email )

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Rochester, NY 14623-5604
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Hamid Beladi

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

One UTSA Circle
P.O. Box 5636
San Antonio, TX 78249
United States
210-458-7038 (Phone)
210-458-7040 (Fax)

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