annotated bibliography of fisheries economics literature - Office of ...

This report researches techniques for estimating the effects of bag
limits on recreational anglers, and provides preliminary estimates for the
recreational anglers in Panama City Beach and Destin, Florida as part of a
pilot study of the charter boat industry in northwestern Florida.
Arnold, Vic (196?). "Shrimp." Unpublished working paper.
In this study, vessels from 13 major Gulf of Mexico shrimp ports were
surveyed to determine their cost and earning structure. This information was
combined with effort data for a sample of vessels spending 50 percent or more
of their time on the Tortugas shrimp grounds. Using both these series of
data, broken down into vessel size categories and specifying the distribution
of landings between three Florida ports, a linear programming model was
developed for the expressed purpose of determining the optimal patterns, the
distribution of species and the cost components of vessel operations. Using
constraints based on various assumptions, results were derived that suggested
considerable differences from current port use patterns. Social benefits
derived from their application demonstrate the value of this technique.
Arnott, Richard J. and Joseph E. Stiglitz (1979). "Aggregate Land
Rents, Expenditure on Public Goods, and Optimal City Size." The
Quarterly Journal of Economics, 43(4):471-500.
This paper explores the relationship between aggregate land rents and
public expenditure in a residential urban economy.
Arrow, Kenneth J. (1964). "Optimal Capital Policy, the Cost of Capital,
and Myopic Decision Rules."Annals of the Institute of Statistical
Mathematics, 16:21-30.
The rule for an optimal investment policy requires equating at any
moment of time, the instantaneous marginal productivity of capital to C(t)
which is determined by depreciation conditions and the future course of the
rate of interest and is independent of the profit function. This rule is
myopic in that the future movements of the profit function play no role in the
determination of the current stock of capital and therefore of current
investment. The rate of interest in question is the instantaneous or shortterm
rate, not as usually assumed a long-term rate and the depreciation
(replacement) component is not purely technological but in general depends on
future interest rates.
Arrow, Kenneth J. and Sheldon Chang (1982). "Optimal Pricing, Use, and
Exploration of Uncertain Natural Resource Stocks." Journal of
Environmental Economics and Management, 9:1-10.
Units of natural resources to be called "mines" are assumed distributed
over an unexplored territory according to a Poisson process in space. At any
moment, total reserves and unexplored land are given. Society can determine
the rate of consumption and the rate of exploration. Reserves are drawn down
by consumption and increased by discoveries made during exploration; the
amount of unexplored land is decreased by exploration. At any moment, the
payoff of society is a concave function of consumption less a linear function
of exploration with future payoffs discounted. Optimal policies are
considered and, in particular, it is shown for a large amount of unexplored
land the shadow prices of reserves and of unexplored land move in random
cycles but show only a slight upward tread, thereby casting some light on the
failure of mineral prices to rise at the market rate of interest.
Arrow, Kenneth J. and Mordecai Kurz (1970). Public Investment, The Rate
4 2