Key points are not available for this paper at this time.
Three classes of models of renewable resource economics are discussed in this paper: profit-maximizing models, competitive equilibrium models, and cooperative equilibrium models. A variety of complexities, both biological and economic, are also discussed, including: irreversibility problems, disaggregated biological models, delay effects, and stochastic models. Questions deserving further research are raised.
Colin Clark (Mon,) studied this question.