Economic and biological risk analysis of the Norwegian spring-spawning herring fishery

The purpose of this paper is to study the biological and economic risks involved in the management of the Norwegian spring-spawning herring fishery. We use a discrete time and age-structured model based on historical data. The current paper investigates, under different levels of fishing mortalities, the risk probabilities related to the time behaviour of the spawning stock and profit. We show that the exploitation of the herring stock is vulnerable to small changes in harvesting and price level.