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Fisheries Management Under Cyclical Population Dynamics

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  • Carson, Richard
  • GRANGER, CLIVE W
  • Jackson, Jeremy
  • Schlenker, Wolfram

Abstract

Almost all fisher models assume time-invariant parameter values of the underlying biological growth function except for an i.i.d. error term. We examine the economic implications of cyclical growth parameters in both single and multi-species models, which are frequently observed in many real-world fisheries. Neither optimal harvest rates nor optimal escapement (remaining fish stock after fishing) remain constant as current models would predict. The amplitude of the optimal escapement is incrasing in the amplitude of the biological growth function. Moreover, the optimal harvest rate lags the cycle of the biological growth function, i.e., the highest harvest rate is observed after biological conditionos have started to decline and the optimum escapement level has alrady decreased. This is in sharp contrast to current policies which are in phase with biological conditions and hence imply and increasea/decrease in harvest quotas when the biological system is improving/deteriorating. In our model, harvest closures are only optimal during time periods when growth parameters are improving most rapidly. We show that once the periodicity of the biological growth function is incorporated, many of the traditional policy prescriptions reverse.

Suggested Citation

  • Carson, Richard & GRANGER, CLIVE W & Jackson, Jeremy & Schlenker, Wolfram, 2006. "Fisheries Management Under Cyclical Population Dynamics," University of California at San Diego, Economics Working Paper Series qt4586c8tk, Department of Economics, UC San Diego.
  • Handle: RePEc:cdl:ucsdec:qt4586c8tk
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    Cited by:

    1. Ho Geun Jang & Satoshi Yamazaki & Eriko Hoshino, 2019. "Profit and equity trade‐offs in the management of small pelagic fisheries: the case of the Japanese sardine fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(3), pages 549-574, July.
    2. Georgios Karakatsanis & Nikos Mamassis, 2023. "Energy, Trophic Dynamics and Ecological Discounting," Land, MDPI, vol. 12(10), pages 1-43, October.
    3. Costello, Christopher & Quérou, Nicolas & Tomini, Agnes, 2015. "Partial enclosure of the commons," Journal of Public Economics, Elsevier, vol. 121(C), pages 69-78.
    4. Diana Dijk & Eligius M. T. Hendrix & Rene Haijema & Rolf A. Groeneveld & Ekko C. Ierland, 2017. "An Adjustment Restriction on Fish Quota: Resource Rents, Overcapacity and Recovery of Fish Stock," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(2), pages 203-230, June.
    5. Christopher Costello & Bruno Nkuiya & Nicolas Querou, 2017. "Extracting spatial resources under possible regime shift," Working Papers hal-01615939, HAL.
    6. Kvamsdal, Sturla F. & Maroto, José M. & Morán, Manuel & Sandal, Leif K., 2020. "Bioeconomic modeling of seasonal fisheries," European Journal of Operational Research, Elsevier, vol. 281(2), pages 332-340.
    7. Jules Selles, 2018. "Fisheries management: what uncertainties matter?," Working Papers hal-01824238, HAL.
    8. Michele Baggio, 2016. "Optimal Fishery Management with Regime Shifts: An Assessment of Harvesting Strategies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(3), pages 465-492, July.
    9. McGough Bruce & Plantinga Andrew J. & Costello Christopher, 2009. "Optimally Managing a Stochastic Renewable Resource under General Economic Conditions," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 1-31, December.
    10. Huang, Ling & Smith, Martin D., 2011. "Management of an annual fishery in the presence of ecological stress: The case of shrimp and hypoxia," Ecological Economics, Elsevier, vol. 70(4), pages 688-697, February.
    11. Baggio, Michele & Fackler, Paul L., 2016. "Optimal management with reversible regime shifts," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 124-136.
    12. James Rising & Geoffrey Heal, 2014. "Global Benefits of Marine Protected Areas," NBER Working Papers 19982, National Bureau of Economic Research, Inc.
    13. Aleksandr Abakumov & Yuri Izrailsky, 2022. "Optimal Harvest Problem for Fish Population—Structural Stabilization," Mathematics, MDPI, vol. 10(6), pages 1-16, March.

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    More about this item

    Keywords

    fisheries modeling; time varying growth rates;

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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