On the Choice of the Optimal Temporal Control in Renewable Resource Management

Batabyal, Amitrajeet A.; Beladi, Hamid

doi:10.2139/ssrn.293640

Cited by 2 publications

(2 citation statements)

References 16 publications

(14 reference statements)

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“…In the United States, many counties and states regulate trading activities with the help of so called "blue laws." Weninger and Strand (1998), Batabyal and Beladi (2002) and others have noted that production involving the use of noisy machines is typically restricted to normal working hours. In addition to this, there are labor laws that prevent children under certain ages from using their time to work in most kinds of non-agricultural production processes (Krueger, 1996).…”

Section: Introductionmentioning

confidence: 99%

Time restrictions in natural resource management: A dynamic and stochastic analysis

Batabyal

Beladi

2004

European Journal of Operational Research

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This paper provides a theoretical analysis of time restrictions in the context of natural resource management in North America. The economic inefficiencies arising from the use of time restrictions to protect natural resources have been well documented by researchers. We first show that in the presence of uncertainty about the evolution of the resource stock, time restrictions can lead to the collapse of the resource that is sought to be protected. Given this finding, in the second part of the paper, we discuss an approach to natural resource management under uncertainty in which time restrictions are used to maximize the likelihood that a particular resource will not collapse in the long run.

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Section: Introductionmentioning

confidence: 99%

Time restrictions in natural resource management: A dynamic and stochastic analysis

Batabyal

Beladi

2004

European Journal of Operational Research

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“…This theorem has been used previously in the literature to model all manner of natural resource and environmental phenomena. See Batabyal and Yoo (1994), Batabyal (1999), and Batabyal and Beladi (2002) for more details. 11 non-interventionist strategy minimizes the long run expected cost per time.…”

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confidence: 99%