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The Optimality of the Common Fisheries Policy: the Northern Stock of Hake
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)
We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic
bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits ...
Sole Ownership and Common Property Under Management Flexibility: Valuation, Optimal Exploitation and Regulation
(2001-01)
If one were to examine the institutional configurations under which real world fisheries operate, one would find virtually no fisheries operating under either pure open access or rent maximizing conditions. Instead, most ...
DANTE: Un MEGA dinámico para el control del cambio climático en España
(2006)
El estudio de los impactos económicos de las políticas de control del cambio climático requiere del uso de modelos adecuados. Este artículo presenta un Modelo Dinámico de Equilibrio General Aplicado tipo Ramsey. El modelo ...
Uncertainty and Real Options. Investment and Development of Fishing Resources (II)
(2000-01)
[EN] The irreversibility of the investment expenditures in a fishery and the high degree of uncertainty attaching to the price of the fishing resources make the evaluation of investment opportunity in a fishery particularly ...
Uncertainty and Real Options. Investment and Development of Fishing Resources (I)
(2000-01)
[EN] The valuation of development opportunity of a fishery is made particularly difficult by the high degree of uncertainty attaching to the price of the fishing resource. The net-present-value and other discounted cash-flows ...
Reference Points and Optimal Management in Stochastic Age-Structured Fisheries Models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-07)
The purpose of this article is to characterize dynamic optimal harvesting trajectories that maximize discounted utility assuming an age-structured population model, in the same line as Tahvonen (2009). The main novelty of ...
Why Economists Reject Long-Term Fisheries Management Plans?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-08)
Most fisheries agencies conduct biological and economic assessments independently. This independent conduct may lead to situations in which economists reject management plans proposed by biologists. The objective of this ...
The Evaluation of Fisheries Management: A Dynamic Stochastic Approach
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-03)
In this article, we analyze how to evaluate fishery resource management under “ecological uncertainty”. In this context, an efficient policy consists of applying a different exploitation rule depending on the state of the ...
Economic Integration and Privatization of Publicly-owned Firms
(2001-12)
[EN] We analyse in this paper whether it should be the government of each country that decides whether to privatise a publicly-owned firm (non integration) or whether a supra-national authority should decide whether ...
Mixed Oligopoly and Environmental Policy
(2001-02)
The literature on mixed oligopoly does not consider the role that the environmental policy of the government plays on the decision whether to privatize public firms. Assuming that there are one public firm and n private ...