Optimal Harvest Licensing when Harvest Success is Uncertain
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Optimal Harvest Licensing when Harvest Success is Uncertain. / Hussain, Abul Maala Tanvir; Tschirhart, John.
In: American Journal of Agricultural Economics, Vol. 92, No. 1, 01.2010, p. 125-140.Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Optimal Harvest Licensing when Harvest Success is Uncertain
AU - Hussain, Abul Maala Tanvir
AU - Tschirhart, John
PY - 2010/1
Y1 - 2010/1
N2 - Optimal harvests using individual licenses are determined given that a licensee's probabilities of procuring a license and harvesting successfully are less than one. Probabilities are dependent on the resource stock and the number of licenses, and licensees benefit from the harvesting experience itself. Recreational fishing and hunting are applications. The optimum stock may be greater or less than the maximum sustained yield stock, and investing in more stock decreases licenses but increases licensees' success. The optima depend on whether the license agency views applicants as dedicated or social, where the latter are relatively more interested in procuring a license than in a successful harvest.
AB - Optimal harvests using individual licenses are determined given that a licensee's probabilities of procuring a license and harvesting successfully are less than one. Probabilities are dependent on the resource stock and the number of licenses, and licensees benefit from the harvesting experience itself. Recreational fishing and hunting are applications. The optimum stock may be greater or less than the maximum sustained yield stock, and investing in more stock decreases licenses but increases licensees' success. The optima depend on whether the license agency views applicants as dedicated or social, where the latter are relatively more interested in procuring a license than in a successful harvest.
KW - Sustainability sciences, Management & Economics
KW - optimal harvests
KW - recreational licenses
KW - uncertain harvest success
KW - Sustainability Science
KW - optimal harvests
KW - recreational licenses
KW - uncertain harvest success
UR - http://www.scopus.com/inward/record.url?scp=77956603765&partnerID=8YFLogxK
U2 - 10.1093/ajae/aap019
DO - 10.1093/ajae/aap019
M3 - Journal articles
VL - 92
SP - 125
EP - 140
JO - American Journal of Agricultural Economics
JF - American Journal of Agricultural Economics
SN - 0002-9092
IS - 1
ER -