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The compleat fish wars: biological and dynamic interactions


, : The compleat fish wars: biological and dynamic interactions. Journal of environmental economics and management 30(1): 34-42

In this article we study an example of a fishery in which there are two agents, each harvesting two species of fish. There are two externalities in the model: the dynamic externality studied in Levhari and Mirman (1980) and the biological externality examined in Fischer and Mirman (1992). This model allows us to study the interactions between agents in a model in which the species of fish interact. We find the unique closed loop Nash equilibrium in the context of a differential game and we compare the resulting catch ratios to the results of the earlier papers, which allow for only one externality. We also study the efficiency of the solution.

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Accession: 013205979

DOI: 10.1006/jeem.1996.0003

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Related references

Fischer, R.D.; Mirman, L.J., 1996: The compleat fish wars: biological and dynamics interactions. An example of a fishery in which there are two agents, each harvesting two species of fish, is presented. There are two externalities in the model: the dynamic externality studied in Levhari and Mirman (1980) and the biological externality examine...

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