Harvesting and replenishment policies for renewable natural resources

A. J. Douglas, Richard Johnson

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

The paper links the optimal intertemporal use of renewable natural resources to the harvesting activities of various economic agents. The analysis discusses investment in the stock of renewable resources and cites important examples of this activity. By introducing joint harvesting and replenishment strategies into a model of renewable resource use, the analysis adds descriptive reality and relevance to positive and normative discussions of renewable natural resource use. A high price for the yield or a high discount rate tend to diminish the size of the optimum stationary stock of the resource with a non-replenishment harvesting strategy. Optimal non-replenishment harvesting strategies for renewable natural resources will induce exhaustion or extirpation of the resource if the price of the yield or the discount rate are sufficiently large. The availability of a replenishment technology and the use of replenishment activities tends to buffer the resource against exhaustion or extirpation. -from Authors

Original languageEnglish (US)
Title of host publicationJournal of Environmental Management
Pages27-42
Number of pages16
Volume38
Edition1
StatePublished - 1993
Externally publishedYes

Fingerprint

renewable resource
natural resource
discount rate
resource use
resource
policy
economics
price
analysis

ASJC Scopus subject areas

  • Environmental Science(all)
  • Earth and Planetary Sciences(all)
  • Management, Monitoring, Policy and Law

Cite this

Douglas, A. J., & Johnson, R. (1993). Harvesting and replenishment policies for renewable natural resources. In Journal of Environmental Management (1 ed., Vol. 38, pp. 27-42)

Harvesting and replenishment policies for renewable natural resources. / Douglas, A. J.; Johnson, Richard.

Journal of Environmental Management. Vol. 38 1. ed. 1993. p. 27-42.

Research output: Chapter in Book/Report/Conference proceedingChapter

Douglas, AJ & Johnson, R 1993, Harvesting and replenishment policies for renewable natural resources. in Journal of Environmental Management. 1 edn, vol. 38, pp. 27-42.
Douglas AJ, Johnson R. Harvesting and replenishment policies for renewable natural resources. In Journal of Environmental Management. 1 ed. Vol. 38. 1993. p. 27-42
Douglas, A. J. ; Johnson, Richard. / Harvesting and replenishment policies for renewable natural resources. Journal of Environmental Management. Vol. 38 1. ed. 1993. pp. 27-42
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