IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v76y2022icp863-875.html
   My bibliography  Save this article

Optimisation of economic performance and stock resilience in marine capture fisheries

Author

Listed:
  • Chu, Long
  • Grafton, R. Quentin
  • Kompas, Tom

Abstract

Overfishing and environmental factors, such as climate change, pose critical threats to marine fisheries worldwide by reducing net economic returns and stock resilience. These threats increase the risk that Sustainable Development Goal #14 (Conserve and sustainably use the oceans, seas, and marine resources for sustainable development) will not be achieved by 2030. In response to these global livelihood and sustainability challenges, we developed an analytical framework calibrated to an actual fishery in the Torres Strait (Australia) to evaluate harvest control rules in relation to both economic objectives and stock resilience, as measured by robustness and recovery time. Our results showed that the Dynamic Maximum Economic Yield harvest control rule for this fishery generated both a larger expected net economic surplus and greater resilience than alternative and widely used Maximum Sustained Yield harvest control rules. Our analytical framework could be applied in other fisheries where data are available and offers the possibility of improved economic performance and resilience of marine capture fisheries.

Suggested Citation

  • Chu, Long & Grafton, R. Quentin & Kompas, Tom, 2022. "Optimisation of economic performance and stock resilience in marine capture fisheries," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 863-875.
    • Handle: RePEc:eee:ecanpo:v:76:y:2022:i:c:p:863-875
    DOI: 10.1016/j.eap.2022.09.016
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592622001588
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eap.2022.09.016?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Takashi Kamihigashi, 2014. "Elementary results on solutions to the bellman equation of dynamic programming: existence, uniqueness, and convergence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(2), pages 251-273, June.
    2. Long Chu & Tom Kompas, 2014. "Targets and Fisheries Management in the Asia and Pacific Region," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(3), pages 615-622, September.
    3. K. K. Holsman & A. C. Haynie & A. B. Hollowed & J. C. P. Reum & K. Aydin & A. J. Hermann & W. Cheng & A. Faig & J. N. Ianelli & K. A. Kearney & A. E. Punt, 2020. "Ecosystem-based fisheries management forestalls climate-driven collapse," Nature Communications, Nature, vol. 11(1), pages 1-10, December.
    4. Grafton, R. Quentin & Kompas, Tom & Chu, Long & Che, Nhu, 2010. "Maximum economic yield," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 1-8.
    5. R. Quentin Grafton & Luc Doyen & Christophe Béné & Edoardo Borgomeo & Kate Brooks & Long Chu & Graeme S. Cumming & John Dixon & Stephen Dovers & Dustin Garrick & Ariella Helfgott & Qiang Jiang & Pamel, 2019. "Realizing resilience for decision-making," Nature Sustainability, Nature, vol. 2(10), pages 907-913, October.
      • R. Quentin Grafton & Luc Doyen & Christophe Béné & Edoardo Borgomeo & Kate Brooks & Long Chu & Graeme S. Cumming & John Dixon & Stephen Dovers & Dustin Garrick & Ariella Helfgott & Qiang Jiang & Pamel, 2019. "Realizing resilience for decision-making," Post-Print hal-02733372, HAL.
    6. Yamazaki, Satoshi & Grafton, R. Quentin & Kompas, Tom, 2010. "Non-consumptive values and optimal marine reserve switching," Ecological Economics, Elsevier, vol. 69(12), pages 2427-2434, October.
    7. Lester Kwiatkowski & Laurent Bopp & Olivier Aumont & Philippe Ciais & Peter M. Cox & Charlotte Laufkötter & Yue Li & Roland Séférian, 2017. "Emergent constraints on projections of declining primary production in the tropical oceans," Nature Climate Change, Nature, vol. 7(5), pages 355-358, May.
    8. R. Grafton & Tom Kompas & Viktoria Schneider, 2005. "The Bioeconomics of Marine Reserves: A Selected Review with Policy Implications," Journal of Bioeconomics, Springer, vol. 7(2), pages 161-178, January.
    9. C. Béné & Luc Doyen, 2018. "From Resistance to Transformation: A Generic Metric of Resilience Through Viability," Post-Print hal-03118040, HAL.
    10. M. Barange & G. Merino & J. L. Blanchard & J. Scholtens & J. Harle & E. H. Allison & J. I. Allen & J. Holt & S. Jennings, 2014. "Impacts of climate change on marine ecosystem production in societies dependent on fisheries," Nature Climate Change, Nature, vol. 4(3), pages 211-216, March.
    11. E. D. Galbraith & D. A. Carozza & D. Bianchi, 2017. "A coupled human-Earth model perspective on long-term trends in the global marine fishery," Nature Communications, Nature, vol. 8(1), pages 1-7, April.
    12. Dale Squires & Niels Vestergaard, 2013. "Technical Change and The Commons," The Review of Economics and Statistics, MIT Press, vol. 95(5), pages 1769-1787, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Grafton, R. Quentin & Squires, Dale & Steinshamn, Stein Ivar, 2023. "Towards resilience-based management of marine capture fisheries," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 231-238.
    2. Hidekazu Yoshioka, 2023. "Optimal Aquaculture Planning While Accounting for the Size Spectrum," SN Operations Research Forum, Springer, vol. 4(3), pages 1-34, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Grafton, R. Quentin & Squires, Dale & Steinshamn, Stein Ivar, 2023. "Towards resilience-based management of marine capture fisheries," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 231-238.
    2. Tromeur, Eric & Doyen, Luc & Tarizzo, Violaine & Little, L. Richard & Jennings, Sarah & Thébaud, Olivier, 2021. "Risk averse policies foster bio-economic sustainability in mixed fisheries," Ecological Economics, Elsevier, vol. 190(C).
    3. Cuilleret, Mathieu & Doyen, Luc & Gomes, Hélène & Blanchard, Fabian, 2022. "Resilience management for coastal fisheries facing with global changes and uncertainties," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 634-656.
    4. Yamazaki, Satoshi & Jennings, Sarah & Quentin Grafton, R. & Kompas, Tom, 2015. "Are marine reserves and harvest control rules substitutes or complements for rebuilding fisheries?," Resource and Energy Economics, Elsevier, vol. 40(C), pages 1-18.
    5. do Val, J.B.R. & Guillotreau, P. & Vallée, T., 2019. "Fishery management under poorly known dynamics," European Journal of Operational Research, Elsevier, vol. 279(1), pages 242-257.
    6. Lagarde, A. & Doyen, L. & Ahad-Cissé, A. & Caill-Milly, N. & Gourguet, S. & Pape, O. Le & Macher, C. & Morandeau, G. & Thébaud, O., 2018. "How Does MMEY Mitigate the Bioeconomic Effects of Climate Change for Mixed Fisheries," Ecological Economics, Elsevier, vol. 154(C), pages 317-332.
    7. Huang, Hongrong & Zhuo, La & Wang, Wei & Wu, Pute, 2023. "Resilience assessment of blue and green water resources for staple crop production in China," Agricultural Water Management, Elsevier, vol. 288(C).
    8. Mathieu Cuilleret & Luc Doyen & Hélène Gomes & Fabian Blanchard, 2021. "Resilience-based management for small-scale fisheries in the face of global changes and uncertainties," Bordeaux Economics Working Papers 2021-20, Bordeaux School of Economics (BSE).
    9. Agnieszka Wiszniewska-Matyszkiel & Rajani Singh, 2020. "When Inaccuracies in Value Functions Do Not Propagate on Optima and Equilibria," Mathematics, MDPI, vol. 8(7), pages 1-25, July.
    10. Ni, Yuanming & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2022. "Negative shocks in an age-structured bioeconomic model and how to deal with them," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 15-30.
    11. Torres, Marcelo de O. & Felthoven, Ronald G., 2014. "Productivity growth and product choice in catch share fisheries: The case of Alaska pollock," Marine Policy, Elsevier, vol. 50(PA), pages 280-289.
    12. Abdunnur Abdunnur, 2020. "Nexus of Fisheries and Agriculture Production and Urbanization on Ecological Footprint: New Evidence from Indonesian Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 190-195.
    13. Davis, Katrina & Pannell, David J. & Kragt, Marit & Gelcich, Stefan & Schilizzi, Steven, 2014. "Accounting for enforcement is essential to improve the spatial allocation of marine restricted-use zoning systems," Working Papers 195718, University of Western Australia, School of Agricultural and Resource Economics.
    14. Martin F. Quaas & Till Requate, 2013. "Sushi or Fish Fingers? Seafood Diversity, Collapsing Fish Stocks, and Multispecies Fishery Management," Scandinavian Journal of Economics, Wiley Blackwell, vol. 115(2), pages 381-422, April.
    15. Violaine Tarizzo & Eric Tromeur & Olivier Thébaud & Richard Little & Sarah Jennings & Luc Doyen, 2018. "Risk averse policies foster bio-economic sustainability in mixed fisheries," Cahiers du GREThA (2007-2019) 2018-07, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    16. Tisdell, Clem & Swarna Nantha, Hemanath, 2011. "Comparative costs and conservation of wild species in situ, e.g. orangutans," Ecological Economics, Elsevier, vol. 70(12), pages 2429-2436.
    17. Walden, John & Fissel, Ben & Squires, Dale & Vestergaard, Niels, 2015. "Productivity change in commercial fisheries: An introduction to the special issue," Marine Policy, Elsevier, vol. 62(C), pages 289-293.
    18. Long Chu & Tom Kompas, 2014. "Targets and Fisheries Management in the Asia and Pacific Region," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(3), pages 615-622, September.
    19. Bloise, Gaetano & Vailakis, Yiannis, 2018. "Convex dynamic programming with (bounded) recursive utility," Journal of Economic Theory, Elsevier, vol. 173(C), pages 118-141.
    20. Christophe Béné & Alex Cornelius & Fanny Howland, 2018. "Bridging Humanitarian Responses and Long-Term Development through Transformative Changes—Some Initial Reflections from the World Bank’s Adaptive Social Protection Program in the Sahel," Sustainability, MDPI, vol. 10(6), pages 1-17, May.

    More about this item

    Keywords

    Critical stock limit; Fishery closure; Overfishing; Sand Fish; Sea Cucumber; Robustness; Recovery time; Stock target;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecanpo:v:76:y:2022:i:c:p:863-875. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.