Table of Contents

Preface.

Acknowledgments.

1 A Generic Bioeconomic Model.

1.1 What is Conservation?

1.2 What is a Model?

1.3 A Dynamic Resource-Harvesting Model.

1.4 A Bioeconomic Model.

1.5 A Dynamic Optimization Model.

1.6 A Model of Individual Behavior.

1.7 Individual Vessel Quotas.

1.8 The Veil of Uncertainty.

1.9 Other Resources.

2 Dynamic Optimization.

2.1 Constrained Optimization.

2.2 Optimal Control Theory in One Dimension.

2.3 Nonlinear Control Problems.

2.4 Discrete-time Optimal Control.

2.5 Appendix.

3 Basic Economic Concepts.

3.1 Interest and Discounting.

3.2 Supply and Demand.

3.3 Demand-limited Bionomic Equilibrium.

3.4 Optimal Harvesting Strategies.

3.5 External Costs.

3.6 Competition, Cooperation, and the Theory of Games.

3.7 The Economics of Uncertainty.

4 Investing in Harvesting Capacity.

4.1 Optimal Harvesting Capacity.

4.2 Investment Decisions under Competition.

4.3 Eliminating Excess Capacity.

4.4 Appendix: Optimal Investment.

5 Regulation of Renewable Resource Harvesting.

5.1 The Consequences of Unregulated Resource Harvesting.

5.2 Methods of Regulating Resource Harvesting.

5.3 Shadow Prices, Taxes and Tradeable Quotas.

5.4 Regulation without Taxes or Tradeable Quotas.

6 Growth and Aging.

6.1 Forestry Models.

6.2 Fisheries: The Cohort Model.

6.3 Multicohort Fisheries.

7 Resource Management under Uncertainty.

7.1 Process and Observational Uncertainty.

7.2 Understanding Uncertainty.

7.3 Process Uncertainty.

7.4 An Introduction to Decision Analysis.

7.5 Economic Uncertainties.

7.6 Appendix.

8 Disaggregated Resource Models.

8.1 Source-sink Models.

8.2 Predator-prey Models.

8.3 Mixed-species Harvesting.

9 Synopsis.

Problem Solutions.

References.

Index. 

About the Author

Colin W. Clark, PhD, is Professor Emeritus at the University if British Columbia (Canada). Throughout his career, he has collaborated with biologists and economists in model construction and application. A Fellow of the Royal Society of Canada and the Royal Society of London, Dr. Clark has published extensively in his areas of research interest, which include behavioral ecology and the economics of natural resources with an emphasis on commercial fisheries.