Scope for Efficient Multinational Exploitation of North-East Atlantic Mackerel
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Net
revenue
Player
j
’s net revenue
from harvesting in year
y
is defined as:
where
is total revenue and
is total cost. Net revenue is received at the end of season 3, and so the present value of the stream of net revenues across the planning horizon is:
where
r
is the annual rate of discount.
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west coast
present value
total catch
is total cost. Net revenue is received at the end of season 3, and so the present value of the stream of net revenues across the planning horizon is:
