Renewable resources

Dynamic Modeling of the Harvesting Function: The Conflicting Case. Modern Economy, 5: 791-805

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource extractors with conflicting interests. The traditional management model, dating back to Plourde [1], is overlooked both in the simple case for which the resource stock is treated as a state variable and in the im-proved case for which the harvesting equipment is treated as a stock variable. As a result in the extended case, the equilibrium richer than the saddle point, with bifurcations and limit cycles, is possible.