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Optimal Multi-species Harvesting in Ecologically and Economically Interdependent Fisheries

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  • Stephen Kasperski

Abstract

Single-species management of multi-species fisheries ignores ecological interactions in addition to important economic interactions to the detriment of the health of the ecosystem, the stocks of fish species, and fishery profits. This study maximizes the net present value from a multi-species fishery where species interact ecologically in the ecosystem, and economically through vessels’ multi-product harvesting technology, switching gear types, and interactions in output markets. Numerical optimization techniques are used to determine the optimal harvest quota of each species over time. This study highlights the need to incorporate both ecological and economic interactions that occur between species in an ecosystem. Copyright US Government 2015

Suggested Citation

  • Stephen Kasperski, 2015. "Optimal Multi-species Harvesting in Ecologically and Economically Interdependent Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(4), pages 517-557, August.
    • Handle: RePEc:kap:enreec:v:61:y:2015:i:4:p:517-557
    DOI: 10.1007/s10640-014-9805-9
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    Cited by:

    1. Dale Squires & Niels Vestergaard, 2016. "Putting Economics into Maximum Economic Yield," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 101-116.
    2. Stein Ivar Steinshamn, 2017. "Predators in the market: implications of market interaction on optimal resource management," Journal of Bioeconomics, Springer, vol. 19(3), pages 327-341, October.
    3. Vasquez Caballero, Smit & Salgueiro-Otero, Diego & Ojea, Elena, 2023. "The Role of Catch Portfolios in Characterizing Species' Economic Linkages and Fishers' Responses to Climate Change Impacts," Ecological Economics, Elsevier, vol. 205(C).
    4. Andries Richter & Anne Maria Eikeset & Daan Soest & Florian Klaus Diekert & Nils Chr. Stenseth, 2018. "Optimal Management Under Institutional Constraints: Determining a Total Allowable Catch for Different Fleet Segments in the Northeast Arctic Cod Fishery," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(4), pages 811-835, April.
    5. Kasperski, Stephen, 2016. "Optimal multispecies harvesting in the presence of a nuisance species," Marine Policy, Elsevier, vol. 64(C), pages 55-63.

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    More about this item

    Keywords

    Bioeconomic; Ecosystem-based management; Fishery ; Multi-output; Multispecies; Q22; Q57; D24;
    All these keywords.

    JEL classification:

    • 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
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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