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Management of an annual fishery in the presence of ecological stress: The case of shrimp and hypoxia

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  • Huang, Ling
  • Smith, Martin D.
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    Abstract

    The emergence of ecosystem-based management suggests that traditional fisheries management and protection of environmental quality are increasingly interrelated. Fishery managers, however, have limited control over most sources of marine and estuarine pollution and at best can only adapt to environmental conditions. We develop a bioeconomic model of optimal harvest of an annual species that is subject to an environmental disturbance. We parameterize the model to analyze the effect of hypoxia (low dissolved oxygen) on the optimal harvest path of brown shrimp, a commercially important species that is fished in hypoxic waters in the Gulf of Mexico and in estuaries in the southeastern United States. We find that hypoxia alters the qualitative pattern of optimal harvest and shifts the season opening earlier in the year; more severe hypoxia leads to even earlier season openings. Failure to adapt to hypoxia leads to greater losses when the effects of hypoxia are more severe. However, rent gains from adapting fishery management to hypoxia are relatively small compared to rent losses from the hypoxia effect itself. This suggests that it is critical for other regulatory agencies to control estuarine pollution, and fishery managers need to generate value from the fishery resources through other means such as rationalization.

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    Bibliographic Info

    Article provided by Elsevier in its journal Ecological Economics.

    Volume (Year): 70 (2011)
    Issue (Month): 4 (February)
    Pages: 688-697

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    Handle: RePEc:eee:ecolec:v:70:y:2011:i:4:p:688-697

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

    Related research

    Keywords: Bioeconomics Hypoxia Adaptive policy Ecosystem-based management Growth overfishing Oil spill;

    References

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    1. Massey, D. Matthew & Newbold, Stephen C. & Gentner, Brad, 2006. "Valuing water quality changes using a bioeconomic model of a coastal recreational fishery," Journal of Environmental Economics and Management, Elsevier, vol. 52(1), pages 482-500, July.
    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. Smith, Martin D. & Zhang, Junjie & Coleman, Felicia C., 2008. "Econometric modeling of fisheries with complex life histories: Avoiding biological management failures," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 265-280, May.
    4. Richard Carson & Clive Granger & Jeremy Jackson & Wolfram Schlenker, 2009. "Fisheries Management Under Cyclical Population Dynamics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(3), pages 379-410, March.
    5. Martin D. Smith, 2007. "Generating Value in Habitat-Dependent Fisheries: The Importance of Fishery Management Institutions," Land Economics, University of Wisconsin Press, vol. 83(1), pages 59-73.
    6. Tahvonen, Olli, 2009. "Economics of harvesting age-structured fish populations," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 281-299, November.
    7. Hayri �nal, 1996. "Optimum Management of a Hierarchically Exploited Open Access Resource: A Multilevel Optimization Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(2), pages 448-459.
    8. McConnell, Kenneth E. & Strand, Ivar E., 1989. "Benefits from commercial fisheries when demand and supply depend on water quality," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 284-292, November.
    9. Spence, A Michael & Starrett, David, 1975. "Most Rapid Approach Paths in Accumulation Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 388-403, June.
    10. Tomiyama, Ken, 1985. "Two-stage optimal control problems and optimality conditions," Journal of Economic Dynamics and Control, Elsevier, vol. 9(3), pages 317-337, November.
    11. Christophe Béné & Luc Doyen, 2000. "Storage and Viability of a Fishery with Resource and Market Dephased Seasonalities," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 15(1), pages 1-26, January.
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    Cited by:
    1. Sergey Rabotyagov & Catherine L. Kling & Philip W. Gassman & Nancy N. Rabalais & R. Eugene Turner, 2012. "Economics of Dead Zones: Linking Externalities from the Land to their Consequences in the Sea, The," Center for Agricultural and Rural Development (CARD) Publications 12-wp534, Center for Agricultural and Rural Development (CARD) at Iowa State University.

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