On the elasticities of harvesting rules
Article Abstract:
The elasticities of the harvesting size with respect to the harvesting cost, the interest rate, the drift, and the variance of the growth pattern of a tree in a stochastic rotation problem are ranked. When the tree growth follows a geometric Brownian motion, the harvesting size is most elastic to the harvesting cost, followed by the interest rate, and is least elastic to the parameters of tree growth. Similar results are obtained for the case of linear growth.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2005
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Harvesting and conservation in a predator-prey system
Article Abstract:
The optimal harvesting of prey in a predator-prey ecosystem when predator conservation is considered important is analyzed. The behavior of the system is studied and conditions for optimal control are discussed.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2005
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