CHAPTER 9: COMPARATIVE STATICS OF FISHERY ECONOMICS We begin by laying out the equations that are used in the fishery models covered in the textbook and in these additional materials. The analysis in the chapter text uses continuous time notation. This convention is largely followed in this Word file. However, when we use Excel for dynamic simulation (as in exploit5.xls) we necessarily adopt discrete time, as spreadsheets are set up to do calculation recursively in discrete time intervals. To help the reader, we give the reader the model specifications in both forms (although our derivations are done here only in continuous time).
THE FISHERY MODELS: GENERAL FUNCTION SPECIFICATION