Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic
Whales have private and public good characteristics. A dynamic model, developed to capture the complexities of managing such a resource, yields optimal steady-state estimates suggesting that the current stock of minke whales in the Northeast Atlantic is below the steady-state optimum. The dynamics o...
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1998
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fthighwire:oai:open-archive.highwire.org:eurrag:25/1/73 2023-05-15T17:41:09+02:00 Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic BULTE, ERWIN FOLMER, HENK HEIJMAN, WIM 1998-01-01 00:00:00.0 text/html http://erae.oxfordjournals.org/cgi/content/short/25/1/73 https://doi.org/10.1093/erae/25.1.73 en eng Oxford University Press http://erae.oxfordjournals.org/cgi/content/short/25/1/73 http://dx.doi.org/10.1093/erae/25.1.73 Copyright (C) 1998, Foundation for the European Review of Agricultural Economics Articles TEXT 1998 fthighwire https://doi.org/10.1093/erae/25.1.73 2007-06-25T01:41:38Z Whales have private and public good characteristics. A dynamic model, developed to capture the complexities of managing such a resource, yields optimal steady-state estimates suggesting that the current stock of minke whales in the Northeast Atlantic is below the steady-state optimum. The dynamics of the optimal approach to the steady state are consistent with drastic measures such as the current moratorium on commercial whaling. These findings are not consistent with previous research in this field. The discrepancies should be attributed to the inclusion of non-use values in the present paper. Finally, we compare the outcomes of the dynamic model with the results of a simple static model. We find that the latter consistently errs on the side of excessive exploitation because of its failure to account for the impact of current harvesting on future benefits and costs Text Northeast Atlantic HighWire Press (Stanford University) European Review of Agricultural Economics 25 1 73 91 |
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HighWire Press (Stanford University) |
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English |
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Articles BULTE, ERWIN FOLMER, HENK HEIJMAN, WIM Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
topic_facet |
Articles |
description |
Whales have private and public good characteristics. A dynamic model, developed to capture the complexities of managing such a resource, yields optimal steady-state estimates suggesting that the current stock of minke whales in the Northeast Atlantic is below the steady-state optimum. The dynamics of the optimal approach to the steady state are consistent with drastic measures such as the current moratorium on commercial whaling. These findings are not consistent with previous research in this field. The discrepancies should be attributed to the inclusion of non-use values in the present paper. Finally, we compare the outcomes of the dynamic model with the results of a simple static model. We find that the latter consistently errs on the side of excessive exploitation because of its failure to account for the impact of current harvesting on future benefits and costs |
format |
Text |
author |
BULTE, ERWIN FOLMER, HENK HEIJMAN, WIM |
author_facet |
BULTE, ERWIN FOLMER, HENK HEIJMAN, WIM |
author_sort |
BULTE, ERWIN |
title |
Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
title_short |
Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
title_full |
Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
title_fullStr |
Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
title_full_unstemmed |
Dynamic and static approaches to mixed good management: The case of minke whales in the Northeast Atlantic |
title_sort |
dynamic and static approaches to mixed good management: the case of minke whales in the northeast atlantic |
publisher |
Oxford University Press |
publishDate |
1998 |
url |
http://erae.oxfordjournals.org/cgi/content/short/25/1/73 https://doi.org/10.1093/erae/25.1.73 |
genre |
Northeast Atlantic |
genre_facet |
Northeast Atlantic |
op_relation |
http://erae.oxfordjournals.org/cgi/content/short/25/1/73 http://dx.doi.org/10.1093/erae/25.1.73 |
op_rights |
Copyright (C) 1998, Foundation for the European Review of Agricultural Economics |
op_doi |
https://doi.org/10.1093/erae/25.1.73 |
container_title |
European Review of Agricultural Economics |
container_volume |
25 |
container_issue |
1 |
container_start_page |
73 |
op_container_end_page |
91 |
_version_ |
1766142436745150464 |