Dynamic Modeling in Renewable Resource Exploitation

Lamantia, F.; Radi, D.; Sbragia, L.

doi:10.1007/978-3-319-33276-5_5

Dynamic Modeling in Renewable Resource Exploitation

Lamantia, F.; Radi, D.; Sbragia, L.

Authors

F. Lamantia

D. Radi

Dr Lucia Sbragia lucia.sbragia@durham.ac.uk
Associate Professor

Contributors

Gian Italo Bischi
Editor

Anastasiia Panchuk
Editor

Davide Radi
Editor

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.

Citation

Lamantia, F., Radi, D., & Sbragia, L. (2016). Dynamic Modeling in Renewable Resource Exploitation. In G. I. Bischi, A. Panchuk, & D. Radi (Eds.), Qualitative theory of dynamical systems, tools and applications for economic modelling : lectures given at the COST Training School on new economic complex geography at Urbino, Italy, 17-19 September 2015 (257-289). Springer Verlag. https://doi.org/10.1007/978-3-319-33276-5_5

Acceptance Date	Mar 14, 2017
Online Publication Date	Jun 3, 2016
Publication Date	Jun 3, 2016
Deposit Date	Mar 16, 2017
Publisher	Springer Verlag
Pages	257-289
Series Title	Springer Proceedings in Complexity
Book Title	Qualitative theory of dynamical systems, tools and applications for economic modelling : lectures given at the COST Training School on new economic complex geography at Urbino, Italy, 17-19 September 2015.
Chapter Number	5
ISBN	9783319332741
DOI	https://doi.org/10.1007/978-3-319-33276-5_5
Public URL	https://durham-repository.worktribe.com/output/1669067