Journal
ENVIRONMENTAL & RESOURCE ECONOMICS
Volume 71, Issue 4, Pages 875-895Publisher
SPRINGER
DOI: 10.1007/s10640-017-0187-7
Keywords
Fishery management; Optimal harvesting; Age-structured model; Stock collapse; Harvest control rules; Bioeconomic model; Multiple objectives
Categories
Funding
- Fundacao Calouste Gulbenkian
- Fundacao para a Ciencia e Tecnologia, I.P., Portugal [Pest-OE/AMB/UI4085/2013]
- FCT-Fundacao para a Ciencia e Tecnologia [UID/ECO/00124/2013]
- POR Lisboa [LISBOA-01-0145-FEDER-007722]
- FCT [SFRH/BPD/81880/2011]
- EU/DGMARE Fisheries Data Collection Framework (DCF)
Ask authors/readers for more resources
Several world fish stocks are being explored at unsustainable levels and require management plans to rebuild stock abundance. Defining a management plan is, however, a complex task that entails multidisciplinary work. In fact, while it requires solid scientific knowledge of fish stocks, the inclusion of economic and social objectives is crucial to a successful management implementation. In this paper we develop an age-structured bioeconomic model where the objective function is modified to accommodate preferences from different stakeholders. In particular, we consider important characteristics that a management plan should take into account: profit maximization, fishermen's preference for reducing landings' fluctuations and risk of fishery collapse. Modeling preferences for reducing landings' fluctuations is accomplished by defining a utility function with aversion to intertemporal income fluctuations. Building upon biology literature, we model precautionary concerns by incorporating a probability of collapse that depends on current spawning biomass. We illustrate how this framework is able to assist in the analysis and design of harvest control rules applying it to the Ibero-Atlantic sardine stock.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available