Exploitation of a BiomassConfronted with the Threat of Collapse

Author

E.S. Amundsen and T. Bjorndal

Norway; Department of Economics, University of Bergenfrom  Department of Economics, University of Bergen

Abstract: This paper examines how to harvest a biomassexposed to a potential collapse at an uncertain date. A specific recovery effect is identified which may be positive or negative. In general, the effect on the optimal biomass is indeterminate and depends upon the failure rate, the expected collapse, and the function relating the extent of the collapse to the size of the precollapse shock.

Keywords: ENVIRONMENT; BIOMASS (search for similar items in EconPapers)
JEL-codes: Q20 Q22 (search for similar items in EconPapers)
Date: 1999
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Persistent link:http://EconPapers.repec.org/RePEc:fth:bereco:193

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