The paper formulates a bioeconomic model of a private fee-hunting enterprise to examine the optimal management of this agroecological system under a wide range of bioeconomic circumstances. An empirical application demonstrates that the economic viability of the enterp ¡ (concerning managers) and the sustainability of the underlying biological resources (concerning public regulators) depend critically on the initial endowment of resources and on the existence of publicly-mandated or self-imposed rest ¡ on maximum allowable hunting rates. Perhaps urp ¡ is the implication that in some circumstances regulators may be able to promote resource sustainability by relaxing hunting controls. Key words: fee-hunting enterp ¡ sustainable management. The desire to diversify farms and ranches and disappointment over the condition of some pub-licly-managed game populations (Wenders) are motivating privately-managed "fee-hunting " en-terprises. One variation considered in Washing-ton is the Private Lands Wildlife Management Area five-year pilot program. Landowners pur-chase buck deer tags from the state, resell them to hunters willing to pay for a trophy buck hunt-ing experience, and direct he proceeds to create and maintain premium wildlife habitats on their properties. The land is opened free to state-per-mitted hunters going after does. The state re-tains ownership of the game, but the landowner manages it as if it were his own (The Spokes-man-Review). Emergence of fee-hunting enterprises raises interesting questions regarding the economic vi-ability and biological sustainability of hunting habitat. A logical first step in confronting these questions is to provide conceptual insight into optimal enterp ¡ management under the wide range of bioeconomic ircumstances managers may face. The present paper applies recent lit-erature on optimal harvest of interdependent populations to formulate a normative decisio
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