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- Title
The optimal management of transboundary renewable resources.
- Authors
Munro, Gordon R.
- Abstract
Abstract. This paper investigates the question of the optimal management of renewable resources jointly owned by two states. A dynamic model of fisheries is combined with Nash's theory of two-person co-operative games. Conflicts in the management strategies of the two states arising from differences in perceptions of the social rate of discount, fishing effort costs, and consumer preferences are examined. Cases are considered in which the two partners can and cannot make side or transfer payments to one another. It is concluded that side payments greatly ease the resolution of resource management conflicts.
- Subjects
FISHERIES; CONFLICT management
- Publication
Canadian Journal of Economics, 1979, Vol 12, Issue 3, p355
- ISSN
0008-4085
- Publication type
Article
- DOI
10.2307/134727