The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jul, 1975, Volume 43, Issue 4
https://doi.org/0012-9682(197507)43:4<789:OCOSNR>2.0.CO;2-5
p. 789-802
C. M. K. Watts, John R. Beddington, W. D. C. Wright
Models of the behavior of populations of self-reproducible natural resources in an economic framework have rarely anticipated the consequences of different forms of production functions. This paper investigates sufficient conditions for extinction in a very general model as well as a model having a specific production function. In the second section additional considerations relating to extinction are deduced as well as the existence of a watershed level of population. These conclusions are exemplified using data from one particular population of red deer.
