We analyze an overlapping generations model in which pollution arises, in an accumulatively way, from production. Householders do not care directly about the environment, but pollution leads them to incur health costs when they are elderly. We show that the presence of pollution means that the economy more likely to be dynamically inefficient. For these cases we analyze two kinds of tax scheme: one based on production taxes and the other based on capital and wage taxes. We show how to design both schemes to put the economy into the golden rule allocation. We also show that under the production tax scheme young and elderly agents pay less taxes (or receive more transfers) than under the production tax system. Copyright � 2008 Wiley Periodicals, Inc..

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The purpose of this article is to assess the effectiveness of the collaboration between stakeholders and scientists in the construction of a bio-economic model to simulate management strategies for the fisheries in Iberian Atlantic waters. For 3 years, different stakeholders were involved in a model development study, participating in meetings, surveys and workshops. Participatory modelling involved the definition of objectives and priorities of stakeholders, a qualitative evaluation and validation of the model for use by decision-makers, and an iterative process with the fishing sector to interpret results and introduce new scenarios for numerical simulation. The results showed that the objectives of the participating stakeholders differed. Incorporating objectives into the design of the model and prioritizing them was a challenging task. We showed that the parameterization of the model and the analysis of the scenarios results could be improved by the fishers’ input: e.g. ray and skate stocks were explicitly included in the model; and the behaviour of fleet dynamics proved much more complex than assumed in any traditional modelling approach. Overall, this study demonstrated that stakeholder engagement through dialogue and many interactions was beneficial for both, scientists and the fishing industry. The researchers obtained a final refined model and the fishing industry benefited from participating in a process, which enables them to influence decisions that may affect them directly (to shape) whereas non-participatory processes lead to management strategies being imposed on stakeholders (to be shaped).

Pulse …shing may be a global optimal strategy in multicohort …sheries. In this article we compare the pulse …shing solutions obtained by using global numerical methods with the analytical stationary optimal solution.This allows us to quantify the potential bene…ts associated with the use of periodic …shing in the Northern Stock of hake. Results show that: …rst, management plans based exclusively on traditional reference targets as F msy may drive …shery economic results far from the optimal; second, global optimal solutions would imply, in a cyclical manner, the closure of the …shery for some periods and third, second best stationary policies with stable employment only reduce optimal present value of discounted pro…t in a 2%.