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Economics of biodiversity and sustainable fisheries management

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  • Akpalu, Wisdom

Abstract

Marine ecosystems are complex, and many marine species are ecologically interdependent. As a result, losing a species could produce a cascading effect on other species. Fishery scientists advocate an ecosystem-based approach to fishery management to meet long-term sustainable goals. This paper models the complex interrelationships among species and the relationship between biomass growth and phenotypic diversity. We found that the equilibrium stock and catch/yield levels are overestimated when the diversity is not accounted for. Consequently, if species are diverse, fishery policy based on a single fishery management could overestimate catch potentials and potentially results in biological overfishing and stock collapse.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 68 (2009)
Issue (Month): 10 (August)
Pages: 2729-2733

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Handle: RePEc:eee:ecolec:v:68:y:2009:i:10:p:2729-2733

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: Phenotypic variance Average phenotype Biodiversity Fishing policy Stock collapse;

References

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  1. Brock,W. & Xepapadeas,A., 2001. "Valuing biodiversity from an economic perspective : a unified economic, ecological and genetic approach," Working papers 17, Wisconsin Madison - Social Systems.
  2. Heal, Geoffrey, 2004. "Economics of biodiversity: an introduction," Resource and Energy Economics, Elsevier, vol. 26(2), pages 105-114, June.
  3. Sterner, Thomas, 2007. "Unobserved diversity, depletion and irreversibility The importance of subpopulations for management of cod stocks," Ecological Economics, Elsevier, vol. 61(2-3), pages 566-574, March.
  4. Weitzman, M.L., 1992. "Diversity Functions," Harvard Institute of Economic Research Working Papers 1610, Harvard - Institute of Economic Research.
  5. Solow Andrew & Polasky Stephen & Broadus James, 1993. "On the Measurement of Biological Diversity," Journal of Environmental Economics and Management, Elsevier, vol. 24(1), pages 60-68, January.
  6. Weitzman, Martin L, 1992. "On Diversity," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 363-405, May.
  7. Oliver Fromm, 2000. "Ecological Structure and Functions of Biodiversity as Elements of Its Total Economic Value," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(3), pages 303-328, July.
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Citations

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Cited by:
  1. Quérou, N. & Tomini, A., 2013. "Managing interacting species in unassessed fisheries," Ecological Economics, Elsevier, vol. 93(C), pages 192-201.
  2. Akpalu, Wisdom & Vondolia, Godwin K., 2012. "Bioeconomic model of spatial fishery management in developing countries," Environment and Development Economics, Cambridge University Press, vol. 17(02), pages 145-161, April.
  3. Akpalu, Wisdom & Dasmani , Isaac & Normanyo, Ametefee K., 2013. "Optimum fisheries management under climate variability: Evidence from artisanal marine fishing in Ghana," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  4. Akpalu, Wisdom & Bitew, Worku T., 2011. "Species diversity, fishing induced change in carrying capacity and sustainable fisheries management," Ecological Economics, Elsevier, vol. 70(7), pages 1336-1343, May.

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