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

This note provides an economic interpretation of the maximum principle
of Pontriagin. A recent paper by Dorfman has developed the economics of this
principle as applied to a capital theory model. We present a generalization
of Dorfman's result.
Benford, Frank A. (1995). A Model of the North Carolina Bay Scallop Fishery
With Endogenous Fishing Effort and Entry. Natural Resource Modeling,
9(3):197-228.
The principle purpose of this model is to aid in the evaluation and
design of regulations that affect the fishery. It differs from most previous
models with a similar purpose in three ways. (1) Daily fishing costs are
assumed to vary among fishermen. (2) Daily fishing effort is determined
endogenously rather than being treated as a control variable. (3) Entry into
the fishery is determined endogenously up to a cap imposed by the regulatory
agency. The model explains the adverse reaction to a proposed attempt to
increase the value of the fishery by delaying the opening date. The model is
used to predict the economic consequences of four feasible sets of
regulations.
Benirschka, Martin and James K. Binkley (1995). "Optimal Storage and
Marketing Over Space and Time." American Journal of Agricultural
Economics, 77(3):512-524.
Borrowing from the theory of optimal resource extraction, we develop the
mechanism guiding efficient commodity storage and marketing over producing
regions through the crop year. Optimal storage occurs at producing areas, and
time in storage varies directly with distance to market. Prices grow with
interest rates in locations where storage is efficient but more slowly
elsewhere, which explains why market prices (i.e. prices at the market) grow
more slowly than interest rates. The model is empirically supported by
examining storage in the Corn Belt, rates of price growth at various points,
and quarterly grain marketings.
Benway, Robert L., Kevin P. Thomas, and Jack W. Jossi (1993). "Watercolumn
Thermal Structure in the Middle Atlantic Bight and Gulf of
Maine during 1978-92." NOAA Technical Memorandum NMFS-F/NEC-97,
U.S. Department of Commerce, National Oceanic and Atmospheric
Administration, National Marine Fisheries Service, Northeast
Region, Northeast Fisheries Science Center, Woods Hole,
Massachusetts, March, 154 pp.
This report presents water column temperature data for the Middle
Atlantic Bight and Gulf of Maine during 1978-92. Data were collected by
expendable bathythermographs deployed by merchant ships during monthly
transects of both bodies of water. Data are presented as contoured vertical
sections. Methods of data collection, management, and portrayal are
discussed.
Berck, Peter (1979). "The Economics of Timber: A Renewable Resource in
the Long Run." The Bell Journal of Economics, 10(2):447-62.
Critics of current and historical trends in timber production contend
that private owners cut their woods more quickly than optimal, while public
managers cut their forests more slowly than optimal. Using the douglas fir
industry, this paper shows that private entrepreneurs holding rational
expectations with respect to future prices have historically been discounting
the future at a real rate of 5 percent - a much lower rate than that available
for other private investments - and, therefore, that these owners have not cut
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