publisher:10.1051/mmnp/2018050
Optimal harvesting of a spatially distributed renewable resource with endogenous pricing
Contact
thorsten.upmann [ at ] hifmb.de
Abstract
In this paper, we focus on the exploitation of a renewable resource in a spatial setting. Building upon the spatial harvesting model of [Behringer and Upmann, J. Econ. Dyn. Control 42 (2014) 105-120], we endogenize the price for the resource assuming that after harvesting the good is non-durable, i.e. the harvesting yield must be supplied on the market instantaneously. We find necessary optimality conditions and use them to derive an iterative algorithm to improve at each step the harvesting effort. We find that with endogenous prices the full exploitation result of [Behringer and Upmann, J. Econ. Dyn. Control 42 (2014) 105-120] may cease to hold.
Item Type
Article
Authors
Divisions
Primary Division
Organizations > AWI Organizations > Institutes > HIFMB: Helmholtz Institute for Functional Marine Biodiversity
Programs
Helmholtz Research Programs > CHANGING EARTH (2021-2027) > PT6:Marine and Polar Life: Sustaining Biodiversity, Biotic Interactions, Biogeochemical Functions > ST6.1: Future ecosystem functionality
Primary Topic
Helmholtz Programs > Helmholtz Research Programs > CHANGING EARTH (2021-2027) > PT6:Marine and Polar Life: Sustaining Biodiversity, Biotic Interactions, Biogeochemical Functions
Publication Status
Published
Eprint ID
58087
DOI
10.1051/mmnp/2018050
Cite as
Anita, S.
,
Behringer, S.
,
Mosneagu, A. M.
and
Upmann, T.
(2019):
Optimal harvesting of a spatially distributed renewable resource with endogenous pricing
/
E. Augeraud-Véron
,
A. Blanchet
,
R. Boucekkine
and
V. Veliov
(editors)
,
Mathematical Modelling of Natural Phenomena,
14
(1),
p. 101
.
doi: 10.1051/mmnp/2018050
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