Mathematical Bioeconomics The Mathematics of

Mathematical Bioeconomics: The Mathematics of Conservation analyzes the economic forces underlying the misuse of biological renewable resources and discusses economically effective methods of resource management. It shows how rigorous mathematical modeling can be used to solve the complex problems of bioeconomics. This Third Edition has been revised to address the importance of individual economic incentives, the over-riding importance of uncertainty, and the value of diversity. Resource managers, conservation biologists, ecologists, applied mathematicians, biologists, and economic analysts will rely on this timely resource.

Colin W. Clark, PHD, is Professor Emeritus at the University of British Columbia (Canada). Throughout his career, he has collaborated with biologists and economists in model construction and application. A Fellow of the Royal Society of Canada and the Royal Society of London, Dr. Clark has published extensively in his areas of research interest, which include behavioral ecology and the economics of natural resources with an emphasis on commercial fisheries.

Preface	p. ix
Acknowledgments	p. xv
A Generic Bioeconomic Model	p. 1
What is Conservation?	p. 1
What is a Model?	p. 3
Exercises	p. 4
A Dynamic Resource-Harvesting Model	p. 4
Exercises	p. 13
A Bioeconomic Model	p. 14
Exercises	p. 22
A Dynamic Optimization Model	p. 23
Exercises	p. 31
A Model of Individual Behavior	p. 32
Exercises	p. 39
Individual Vessel Quotas	p. 40
Exercises	p. 49
The Veil of Uncertainty	p. 49
Exercises	p. 50
Other Resources	p. 50
Dynamic Optimization	p. 55
Constrained Optimization	p. 55
Exercises	p. 61
Optimal Control Theory in One Dimension	p. 62
Exercises	p. 75
Nonlinear Control Problems	p. 76
Exercises	p. 82
Discrete-time Optimal Control	p. 83
Exercises	p. 94
Appendix	p. 95
Exercises	p. 98
Basic Economic Concepts	p. 101
Interest and Discounting	p. 101
Exercises	p. 106
Supply and Demand	p. 106
Exercises	p. 116
Demand-limited Bionomic Equilibrium	p. 116
Exercises	p. 125
Optimal Harvesting Strategies	p. 125
External Costs	p. 127
Exercises	p. 137
Competition, Cooperation, and the Theory of Games	p. 137
Exercises	p. 142
The Economics of Uncertainty	p. 142
Exercises	p. 150
Investing in Harvesting Capacity	p. 153
Optimal Harvesting Capacity	p. 154
Exercises	p. 162
Investment Decisions under Competition	p. 163
Exercises	p. 167
Eliminating Excess Capacity	p. 167
Exercises	p. 173
Appendix: Optimal Investment	p. 174
Regulation of Renewable Resource Harvesting	p. 179
The Consequences of Unregulated Resource Harvesting	p. 179
Exercises	p. 185
Methods of Regulating Resource Harvesting	p. 185
Exercises	p. 189
Shadow Prices, Taxes and Tradeable Quotas	p. 189
Exercises	p. 211
Regulation without Taxes or Tradeable Quotas	p. 212
Exercises	p. 221
Growth and Aging	p. 223
Forestry Models	p. 224
Exercises	p. 232
Fisheries: The Cohort Model	p. 233
Exercises	p. 243
Multicohort Fisheries	p. 244
Exercises	p. 250
Resource Management under Uncertainty	p. 253
Process and Observational Uncertainly	p. 255
Exercises	p. 260
Understanding Uncertainty	p. 261
Exercises	p. 272
Process Uncertainty	p. 273
Exercises	p. 276
Exercises	p. 279
An Introduction Decision Analysis	p. 279
Exercises	p. 283
Economic Uncertainties	p. 284
Exercises	p. 287
Appendix: Bayesian Updating	p. 287
Exercises	p. 300
Disaggregated Resource Models	p. 303
Source-sink Models	p. 304
Exercises	p. 304
Exercises	p. 309
Predator-prey Models	p. 309
Exercises	p. 316
Mixed-species Harvesting	p. 317
Exercises	p. 321
Synopsis	p. 323
Problem Solutions	p. 329
References	p. 355
Index	p. 365
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Mathematical Bioeconomics The Mathematics of Conservation

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