This chapter reviews some fundamental models related to the exploitation of a renewable resource, an important topic when dealing with regional economics. The chapter starts by considering the growth models of an unexploited population and then introduces commercial harvesting. Still maintaining a dynamic perspective, an analysis of equilibrium situations is proposed for a natural resource under various market structures (monopoly, oligopoly and open access). The essential dynamic properties of these models are explained, as well as their main economic insights. Moreover, some key assumptions and tools of intertemporal optimal harvesting are recalled, thus providing an interesting application of the theory of optimal growth.
Lamantia, F., Radi, D., Sbragia, L., Dynamic modeling in renewable resource exploitation, in Bischi G.I, B. G., Panchuk A, P. A., Radi D, R. D. (ed.), Qualitative Theory of Dynamical Systems, Tools and Applications for Economic Modelling, Springer, GEWERBESTRASSE 11, CHAM, CH-6330, SWITZERLAND 2016: <<SPRINGER PROCEEDINGS IN COMPLEXITY>>, 257- 289. 10.1007/978-3-319-33276-5_5 [https://hdl.handle.net/10807/238094]
Dynamic modeling in renewable resource exploitation
Radi, DavideSecondo
Methodology
;Sbragia, LuciaUltimo
2016
Abstract
This chapter reviews some fundamental models related to the exploitation of a renewable resource, an important topic when dealing with regional economics. The chapter starts by considering the growth models of an unexploited population and then introduces commercial harvesting. Still maintaining a dynamic perspective, an analysis of equilibrium situations is proposed for a natural resource under various market structures (monopoly, oligopoly and open access). The essential dynamic properties of these models are explained, as well as their main economic insights. Moreover, some key assumptions and tools of intertemporal optimal harvesting are recalled, thus providing an interesting application of the theory of optimal growth.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.