
Fisheries Management and Intergenerational Equity
Sumaila, Ussif Rashid; Pareja, Claudio; Ekeland, Ivar (2009), Fisheries Management and Intergenerational Equity. https://basepub.dauphine.fr/handle/123456789/2268
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Type
Document de travail / Working paperDate
2009Publisher
Université Paris-Dauphine
Series title
Cahiers de la Chaire Finance et Développement DurableSeries number
17Published in
Paris
Pages
26
Metadata
Show full item recordAuthor(s)
Sumaila, Ussif RashidPareja, Claudio
Ekeland, Ivar
CEntre de REcherches en MAthématiques de la DEcision [CEREMADE]
Abstract (EN)
We adapt the classical Schaefer model of fisheries management to take into account intergenerational equity, in the line of Sumaila ([18]) and Sumaila and Walters ([19]). The resulting discount rate then is non-constant, and the planner’s preferences are time inconsistent, so that optimal solutions are not implementable. In the line of Ekeland and Lazrak ([6], [7]) we define Markov subgame perfect equilibria of the underlying sequential game. We characterize equilibrium strategies by a simple relation, and we reach a robust conclusion, namely that, to take into account intergenerational equity, the rate of time preference, δ, should be replace by δ −n, where n is the rate of growth of the human population.Subjects / Keywords
Generations; Fish Stock Sustainability; Discount rateRelated items
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