Cyclical versus Non-Cyclical Harvesting Policies in Renewable Resource Management
Exploitation cyclique versus exploitation non-cyclique pour la gestion d'une ressource naturelle renouvelable
Résumé
In this paper, we explore the link between cyclical and non-cyclical resource exploitation. We define an impulse control framework and show that the optimal harvesting behavior derived from this model can either be cyclical or a Most Rapid Approach Path. For the cyclical solution, we etablished a link between our impulse control framework and the discrete time model by David & Kopel. For the Most Rapid Approach solution, we shoxw the relation to Clark's continuous control model. Our model is general enough to admit convex and concave revenue functions. Using different harvest cost functions proposed in the literature, we show that particular functional forms of harvest costs may be at the origin of cyclical or non-cyclical solutions.
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