Increasing Returns and Cycles in Fishing

M. Liski, P.M. Kort, A.J. Novak

Research output: Working paperDiscussion paperOther research output

308 Downloads (Pure)


We consider optimal fishery management under the assumption of increasing returns that is supported by previous empirical evidence. We improve the tractability and realism of the previous approaches by introducing flow adjustment costs on changes in harves rate. Our framework is the first to provide a link between stable limit cycle policies and increasing returns in harvesting. The type of the harvest policy depends on flow adjustment costs: for relatively costly adjustments the usual steady state harvest policy is conceivable, whereas for relatively cheap adjustments the harvest policy is cyclical. We also show a connection between chattering control policies and limit cycles, which helps us to develop a clear economic meaning for cyclical harvesting.
Original languageEnglish
Place of PublicationTilburg
Number of pages27
Publication statusPublished - 2000

Publication series

NameCentER Discussion Paper


  • Nonconvexities
  • adjustment costs
  • Hopf bifurcation
  • renewable resources


Dive into the research topics of 'Increasing Returns and Cycles in Fishing'. Together they form a unique fingerprint.

Cite this