Decentralized Management of a Fishery |
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Authors: | Sébastien Rouillon |
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Affiliation: | 1. GREThA, University of Bordeaux 4, Bordeaux, France
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Abstract: | We construct an economic mechanism to realize in Nash equilibrium an optimal consumption time path of a natural resource. For exposition convenience, the analysis is conducted within the model initiated by Levhari and Mirman (Bell J Econ 11:322–334, 1980). This framework allows us to explicitely compute the consumption time paths of the resource, associated with an open-access regime, with a cooperative management and with a (stationary Markovian) Nash equilibrium of the difference game induced by the proposed mechanism. |
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