Consumer preferences, aquaculture technology and the sustainability of fisheries

This article analyzes the impact of aquaculture on wild fish stocks and on fish consumption, taking into account its dependence on reduction fisheries for the feeding of the farmed species and consumet preferences. The model includes the demand side and three sectors: and edible fish fishery and a reduction fishery, both in open access, and an aquaculture sector. We assume on the one hand that consumer preferences are carnivorous species biased, and on the other hand that the efficiency of the aquaculture sector depends on the diet of the farmed species. We show that consumers are better-off in presence of aquaculture. Furthermore, the income level for which collapse of the wild edible fishery occurs is postponed. However, the choice of the farmed species entails a trade-off between the edible fishery and the reduction fishery which stems from the characteristics of the demand side. Therefore, we explore the consequences of the sensitivity of consumers to the farmed fish type. We also analyze the dynamics of fish stocks, supplies and prices and find that the steady state is a stable node