Dynamic Regulation of Fisheries: the Case of the Bowhead Whale
The regulation of fisheries often requires finding numerical solutions to dynamic optimization problems. This paper presents a version of the "multiple shooting" algorithm and uses it to approximate the dynamic solution to a fisheries problem examined by Conrad (1989): the hunting of the B...
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| Format: | Article in Journal/Newspaper |
| Language: | English |
| Published: |
1993
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| Online Access: | http://purl.umn.edu/48814 |
| Summary: | The regulation of fisheries often requires finding numerical solutions to dynamic optimization problems. This paper presents a version of the "multiple shooting" algorithm and uses it to approximate the dynamic solution to a fisheries problem examined by Conrad (1989): the hunting of the Bowhead whale in the Western Arctic. It is found that the inclusion of dynamic considerations can significantly alter the nature of the policy if the regulated population is not near its steady state. |
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