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The Dynamics of an Open Access: The case of the Baltic Sea Cod Fishery - A Strategic Approach -

Author

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  • Lone Grønbæk Kronbak

    (Department of Environmental and Business Economics, University of Southern Denmark)

Abstract

The paper sets up a discrete-time, deterministic model of a single industry, in the light of the benchmark theory of Smith (1968). The model is used to de-scribe the dynamics of recovery from a replenishable resource such as the case of the eastern Baltic Cod fishery. The model advances from Smith’s (1968) theory since it includes a biological function dividing the change in the biomass into growth occurring during the year and recruits entering the spawning stock biomass and a dynamic entry/exit function applying a slightly more technical production function than the Schaefer production function. Theoretical possible types of steady state are discussed before the theory is applied to the eastern Baltic Sea cod fishery. The path the fishery has been following since 1982 is determined and it is discussed how it relates to the optimal path to steady state. The paper further throws light on questions as; Are we able to understand the dynamic behavior of fishermen in this fishery? Does a stable equilibrium exits and how is the path to this equilibrium described? When a fishery is regarded outside safe biological limits, could it be on the path to a positive steady state?

Suggested Citation

  • Lone Grønbæk Kronbak, 2002. "The Dynamics of an Open Access: The case of the Baltic Sea Cod Fishery - A Strategic Approach -," Working Papers 31/02, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    • Handle: RePEc:sdk:wpaper:31
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    References listed on IDEAS

    as
    1. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
    2. Trond Bjorndal & Jon M. Conrad, 1987. "The Dynamics of an Open Access Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 20(1), pages 74-85, February.
    3. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
    4. Smith, Vernon L, 1971. "Economics of Production from Natural Resources: Reply," American Economic Review, American Economic Association, vol. 61(3), pages 488-491, June.
    5. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Lone Kronbak & Marko Lindroos, 2006. "An Enforcement-Coalition Model: Fishermen and Authorities Forming Coalitions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 35(3), pages 169-194, November.
    2. Christine Roeckmann & Uwe A. Schneider & Michael A. St.John & Richard S.J. Tol, 2006. "Rebuilding the Eastern Baltic cod stock under environmental change - Part II: The economic viability of a marine protected area," Working Papers FNU-106, Research unit Sustainability and Global Change, Hamburg University, revised May 2006.
    3. Quaas, Martin F. & Requate, Till & Ruckes, Kirsten & Skonhoft, Anders & Vestergaard, Niels & Voss, Rudi, 2013. "Incentives for optimal management of age-structured fish populations," Resource and Energy Economics, Elsevier, vol. 35(2), pages 113-134.
    4. Ute Kapaun & Martin Quaas, 2013. "Does the Optimal Size of a Fish Stock Increase with Environmental Uncertainties?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(2), pages 293-310, February.
    5. Thanh Viet Nguyen & Lars Ravn-Jonsen & Niels Vestergaard, 2016. "Marginal Damage Cost of Nutrient Enrichment: The Case of the Baltic Sea," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 109-129, May.

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