Harvest policies and nonmarket valuation in a predator — prey system |
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| Authors: | David L Ragozin Gardner Brown |
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| Institution: | Department of Mathematics, University of Washington, Seattle, Washington 98195, USA;Department of Economics, University of Washington, Seattle, Washington 98195, USA |
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| Abstract: | Although prey may not have commercial value, their economic value can be ascertained in a predator-prey model if the predator has a harvest value. The economic optimal (recovery) path of the predator and prey are carefully described when growth is quadratic in the predator (prey) and linear in prey (predator). Parameter values, in part, resembling Pacific halibut are used to provide numerical illustrations. |
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