Fisheries management with stock growth uncertainty and costly capital adjustment
نویسندگان
چکیده
منابع مشابه
Adjustment to Target Capital, Finance, and Growth
Does financial development result in capital being reallocated more rapidly to industries where it is most productive? We argue that if this was the case, financially developed countries should see faster growth in industries with investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth implication requires proxies for (latent) glob...
متن کاملUncertainty , Capital Investment , and Risk Management ∗
We use forward-looking and exogenous measures of output price uncertainty to examine the effect of price uncertainty on firm-level capital investment, risk management, and debt issuance. The effects of uncertainty vary significantly by firm size. When faced with high price uncertainty, large firms increase their hedging intensity but do not lower capital investment or debt issuance. In contrast...
متن کاملOf Economics Costly Portfolio Adjustment
This paper studies the dynamic optimization problem of a household when portfolio adjustment is costly. The analysis is motivated by the observation that on a monthly basis, less than 10% of stockholders typically adjust their portfolio of common stocks. We use this, and related observations, to estimate the parameters of household preferences and portfolio adjustment costs. We find significant...
متن کاملJoint pricing and inventory management with deterministic demand and costly price adjustment
We analyze a joint inventory and pricing model of a single product over a finite planning horizon with deterministic demand. In this model, an ordering quantity and a price are decided simultaneously at the beginning of each period, demand of the period depends on the price, and a price adjustment cost is incurred if the price is changed from the previous period. We develop polynomial time algo...
متن کاملInternational Fisheries Agreements with a Shifting Stock
When a fish stock shifts from one nation to another nation, e.g. due to climate change, the nation that loses the resource has incentives to deplete it while the other nation, receiving the resource, has incentives to conserve it. We propose an analytical model to study under which circumstances self-enforcing agreements can align incentives. Our setup allows to distinguish between a fast and a...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Environmental Economics and Management
سال: 2006
ISSN: 0095-0696
DOI: 10.1016/j.jeem.2006.02.006