Journal Article Quasi-Option Value and the Expected Value of Information Get access Jon M. Conrad Jon M. Conrad Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 94, Issue 4, June 1980, Pages 813–820, https://doi.org/10.2307/1885672 Published: 01 June 1980

In the mid-1970s the International Whaling Commission concluded that the increased harvest by Alaskan Eskimos threatened the existence of the bowhead whale, which was slowly recovering from a period of open-access exploitation (1848-1914). This paper briefly discusses the economic history of the bowhead whale fishery in the western Arctic, simulates the population from 1848-1988, and presents a bioeconomic model that may be used to determine optimal Eskimo harvest for alternative rates of discount and weights on the bowhead population.

In the mid-1970s the International Whaling Commission concluded that the increased harvest by Alaskan Eskimos threatened the existence of the bowhead whale, which was slowly recovering from a period of open-access exploitation (1848-1914). This paper briefly discusses the economic history of the bowhead whale fishery in the western Arctic, simulates the population from 1848-1988, and presents a bioeconomic model that may be used to determine optimal Eskimo harvest for alternative rates of discount and weights on the bowhead population.