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

their forests prematurely. In the case of public management, calculated
shadow losses incurred by holding old timber are so great that an appeal to
nontimber use values is not sufficient to reconcile management practices.
Finally, predictions for the long-term price trends for timber indicate a
slowdown in the rate of price increase.
Berck, Peter (1979). "Open Access and Extinction." Econometrics,
47(4):877-882.
This paper reconsiders necessary conditions for extinction of an animal
population. Containing many of the models previously developed in the
literature, the general model proposed here suggests that (i) conditions for
extinction depend exclusively on the relation of a minimum viable population
size to the minimum population size at which any exploitation is profitable,
(ii) necessary conditions for extinction need not be characterized in terms of
returns-to-scale parameters or growth rates as other authors have contended,
and (iii) possible short run shutdown may save a population from extinction if
the fish population at the time of shutdown is large enough to sustain the
species.
Berck, Peter (1981). "Optimal Management of Renewable Resources with
Growing Demand and Stock Externalities." Journal of Environmental
Economics and Management, 8:105-117.
In an equilibrium framework, optimal management of renewable resources
in the presence of growing demand or externalities leads to steady states that
differ from those characterized by rate of interest equals rate of change in
growth plus rate of change in prices. Measures to reach an optimum with
externalities other than direct controls are found to be critically mediated
by the costs of harvesting.
Berck, Peter and Jeffrey M. Perloff (1982). "An Open-Access Fishery
with Rational Expectations." Working Paper No. 187, Division of
Agricultural Sciences, California Agricultural Experiment Station,
Giannini Foundation of Agricultural Economics, University of
California, December, 34 pp.
How potential entrants to an open access fishery form their expectations
determines the fishery's adjustment path to a steady state but not the steady
state values themselves. It is well known that, in the standard model with
myopic expectations (those based on current values), boats enter the fishery
only when the fish stock is greater than its steady state stock. We show
that, with rational expectations (perfect foresight), however, boats may enter
when the fish stock is much lower than its steady state value if the boat
fleet is sufficiently small. This paper contrasts myopic and rational
expectations within a general dynamic model of an open access fishery.
Berck, Peter and Jeffrey M. Perloff (1984). "An Open-Access Fishery
with Rational Expectations." Econometrica, 52(2):489-506.
How potential entrants to an open access fishery form their expectations
determines the fishery's adjustment path to a steady state but not the steady
state values themselves. It is well known that, in the standard model with
myopic expectations (those based on current values), boats enter the fishery
only when the fish stock is greater than its steady state stock. We show
that, with rational expectations (perfect foresight), however, boats may enter
when the fish stock is much lower than its steady state value if the boat
fleet is sufficiently small. This paper contrasts myopic and rational
expectations within a general dynamic model of an open access fishery.
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