Advanced Search
MyIDEAS: Login

Maximizing profits and conserving stocks in the Australian Northern Prawn Fishery

Contents:

Author Info

  • Tom Kompas
  • Cathy M. Dichmont
  • André E. Punt
  • A. Deng
  • Tuong Nhu Che
  • Janet Bishop
  • Peter Gooday
  • Yemin Ye
  • S. Zhou

Abstract

The Australian Northern Prawn Fishery (NPF) is one of the few that has adopted a dynamic version of a 'maximum economic yield' (MEY) target, and, on this basis, the fishery is undergoing a process of substantial stock rebuilding. This study details the bioeconomic model used to provide scientific management advice for the NPF, in terms of the amount of allowable total gear length in the fishery, for both the MEY target and the path to MEY. It combines the stock assessment process for two species of tiger prawns with a specification for discounted economic profits, where the harvest function in the profit equation is stock-dependent. Results for the NPF show a substantial 'stock effect', indicating the importance of conserving fish stocks for profitability. MEY thus occurs at a stock size that is larger than that at maximum sustainable yield, leading to a 'win-win' situation for both the industry (added profitability) and the environment (larger fish stocks and lower impact on the ecosystem). Sensitivity results emphasize this effect by showing that the MEY target is much more sensitive to changes in the price of prawns and the cost of fuel, and far less so to the rate of discount. Copyright 2010 The Authors. Journal compilation 2010 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://hdl.handle.net/10.1111/j.1467-8489.2010.00493.x
File Function: link to full text
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

Volume (Year): 54 (2010)
Issue (Month): 3 (07)
Pages: 281-299

as in new window
Handle: RePEc:bla:ajarec:v:54:y:2010:i:3:p:281-299

Contact details of provider:
Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
Phone: 0409 032 338
Email:
Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8489
More information through EDIRC

Order Information:
Web: http://ordering.onlinelibrary.wiley.com/subs.asp?ref=1467-8489&doi=10.1111/(ISSN)1467-8489

Related research

Keywords:

Other versions of this item:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2004. "Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery," Applied Economics, Taylor and Francis Journals, vol. 36(15), pages 1631-1641.
  2. Hannesson, Rognvaldur, 2007. "A Note on the "Stock Effect"," Marine Resource Economics, Marine Resources Foundation, vol. 22(1).
  3. Clarke, Raymond P. & Yoshimoto, Stacey S. & Pooley, Samuel G., 1992. "A Bioeconomic Analysis of the Northwestern Hawaiian Islands Lobster Fishery," Marine Resource Economics, Marine Resources Foundation, vol. 7(3).
  4. Bertignac, Michel & Campbell, Harry F. & Hampton, John & Hand, Anthony J., 2000. "Maximizing Resource Rent From The Western And Central Pacific Tuna Fisheries," Marine Resource Economics, Marine Resources Foundation, vol. 15(3).
  5. Ahmed, Mahfuzuddin & Boonchuwongse, Pongpat & Dechboon, Waraporn & Squires, Dale, 2007. "Overfishing in the Gulf of Thailand: policy challenges and bioeconomic analysis," Environment and Development Economics, Cambridge University Press, vol. 12(01), pages 145-172, February.
  6. Campbell, Harry F. & Hand, Anthony J. & Smith, Anthony D.M., 1993. "A Bioeconomic Model for Management of Orange Roughy Stocks," Marine Resource Economics, Marine Resources Foundation, vol. 8(2).
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 in new window

Cited by:
  1. Da Rocha, José María & Taboada Antelo, Luis & Gutiérrez Huerta, María José, 2011. "Pulse vs. Optimal Stationary Fishing: The Northern Stock of Hake," DFAEII Working Papers 2011-04, University of the Basque Country - Department of Foundations of Economic Analysis II.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bla:ajarec:v:54:y:2010:i:3:p:281-299

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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