文章基本信息

标题：Equilibrium management of fisheries with altruistic overlapping generations
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作者：Ekeland, Ivar ; Karp, Larry S. ; Sumaila, Ussif Rashid 等
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2011
出版社：Journal of Agribusiness
摘要：We imbed a classic fishery model, where the optimal policy follows a Most Rapid Approach Path to a steady state, into an overlapping generations setting. The current generation discounts future generations’ utility flows at a rate possibly different from the pure rate of time preference used to discount their own utility flows. The resulting model has non-constant discount rates, leading to time inconsistency. The unique Markov Perfect equilibrium to this model has a striking feature: provided that the current generation has some concern for the not-yet born, the equilibrium policy does not depend on the degree of that concern.
关键词：fisheries management;sustainable development;renewable resources;time inconsistency;hyperbolic discounting