We investigate the role of potential regime shifts in Argentinean hake fishery and the interlinkage between ecological and economic resilience. We develop a theoretical model incorporated with the hazard function for resource management under alternative conditions, and derive the corrective tax. Applying the model to the case of Argentinean hake fishery, we obtain insights for fishery management in the presence of risk for a regime…
Publication Keyword: Corrective tax
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