search query: @author Firoozi, F. / total: 1
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| Author: | Merrifield, J. Firoozi, F. |
| Title: | Renewable resource use: transition from capture to allocation and optimal stock recovery |
| Journal: | Journal of Environmental Management
1995 : JUL, VOL. 44:3, p. 195-211 |
| Index terms: | ENVIRONMENTAL PROTECTION EQUITY CAPITAL EFFICIENCY |
| Language: | eng |
| Abstract: | Unlimited access and capture is the best allocation policy for any resource as long as there are no crowding externalities and the harvest rate does not exceed the regeneration rate. If harvest consistently overtakes growth, unlimited capture should no longer be permitted. Without a new institutional arrangement, individuals with access to a common pool resource may ignore the opportunity costs of their action. This study develops a model of optimal harvest path for stock recovery. |
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