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Intertemporal choice of marine ecosystem exploitation

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  • Ravn-Jonsen, Lars J.

Abstract

Exploitation of the marine ecosystem brings with it an intertemporal choice: there is a choice of catching the fish today, or restrain from fishing with the option of an increase in the benefit from future harvest. In a marine ecosystem under common pool management regime the contribution margin from catching the fish belongs to the fisher, while the benefit from the investment of leaving the fish in the sea will be shared in the common pool. The intertemporal choice therefore creates a driver for short sighted use of the ecosystem. The intertemporal balance of the exploitation is analyzed by applying capital theory to a size-based ecosystem model. The model reveals a need for intertemporal balance with respect to both fish size and harvest volume. The management therefore is, at an ecosystem level, to set target and regulate not only harvest volume but also size.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 70 (2011)
Issue (Month): 10 (August)
Pages: 1726-1734

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Handle: RePEc:eee:ecolec:v:70:y:2011:i:10:p:1726-1734

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

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Keywords: Marin ecosystem model Bioeconomics Fishery Ecosystem management Size-based model;

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  1. Hannesson, Rognvaldur, 1983. "Optimal harvesting of ecologically interdependent fish species," Journal of Environmental Economics and Management, Elsevier, vol. 10(4), pages 329-345, December.
  2. 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.
  3. Sanchirico, James N. & Smith, Martin D. & Lipton, Douglas W., 2008. "An empirical approach to ecosystem-based fishery management," Ecological Economics, Elsevier, vol. 64(3), pages 586-596, January.
  4. Ragozin, David L. & Brown, Gardner Jr., 1985. "Harvest policies and nonmarket valuation in a predator -- prey system," Journal of Environmental Economics and Management, Elsevier, vol. 12(2), pages 155-168, June.
  5. Lars J. Ravn-Jonsen, 2009. "Ecosystem Management a Management View," Working Papers 86/09, University of Southern Denmark, Department of Environmental and Business Economics.
  6. Finnoff, David & Tschirhart, John, 2003. "Harvesting in an eight-species ecosystem," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 589-611, May.
  7. Tahvonen, Olli, 2009. "Economics of harvesting age-structured fish populations," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 281-299, November.
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Cited by:
  1. Hammarlund, Cecilia, 2013. "The Big, the Bad and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Working Papers 2013:34, Lund University, Department of Economics.

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