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Population diversity and the portfolio effect in an exploited species

Author

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  • Daniel E. Schindler

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Ray Hilborn

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Brandon Chasco

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Christopher P. Boatright

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Thomas P. Quinn

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Lauren A. Rogers

    (School of Aquatic and Fishery Sciences, University of Washington, Box 355020, Seattle, Washington 98195-5020, USA)

  • Michael S. Webster

    (The Gordon and Betty Moore Foundation, 1661 Page Mill Road, Palo Alto, California 94304, USA)

Abstract

Population diversity boosts fishery resilience The role of species diversity in ecosystem stability is well appreciated, but population diversity within a species is also important and often overlooked. An analysis of over 50 years of data on sockeye salmon returns to the rivers of Bristol Bay, Alaska, shows just how important this portfolio effect — so-called by analogy with risk-spreading in financial markets — can be. The sockeye salmon fishery is one of the most valuable in the United States, with more than 60% of it coming from this region. The fact that it is made up of several hundred discrete populations makes the observed population variability about half what would be expected in a single homogenous population, and numerical modelling predicts that a homogenous population would be subject to ten times more fisheries closures. In terms of fisheries management, this work suggests that reducing the homogenizing effects of hatcheries on genetic diversity, protecting weak stocks from over-harvesting in mixed stock fisheries, and maintaining intact habitat networks should be prioritized.

Suggested Citation

  • Daniel E. Schindler & Ray Hilborn & Brandon Chasco & Christopher P. Boatright & Thomas P. Quinn & Lauren A. Rogers & Michael S. Webster, 2010. "Population diversity and the portfolio effect in an exploited species," Nature, Nature, vol. 465(7298), pages 609-612, June.
    • Handle: RePEc:nat:nature:v:465:y:2010:i:7298:d:10.1038_nature09060
    DOI: 10.1038/nature09060
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    Cited by:

    1. Jan Lorenz & Fabian Paetzel & Frank Schweitzer, 2013. "Redistribution Spurs Growth by Using a Portfolio Effect on Risky Human Capital," PLOS ONE, Public Library of Science, vol. 8(2), pages 1-13, February.
    2. Mallory, Mindy L. & Ando, Amy W., 2014. "Implementing efficient conservation portfolio design," Resource and Energy Economics, Elsevier, vol. 38(C), pages 1-18.
    3. Jardine, Sunny L. & Sanchirico, James N., 2015. "Fishermen, markets, and population diversity," Journal of Environmental Economics and Management, Elsevier, vol. 74(C), pages 37-54.
    4. Seán Kelly & Tadhg N. Moore & Elvira Eyto & Mary Dillane & Chloé Goulon & Jean Guillard & Emilien Lasne & Phil McGinnity & Russell Poole & Ian J. Winfield & R. Iestyn Woolway & Eleanor Jennings, 2020. "Warming winters threaten peripheral Arctic charr populations of Europe," Climatic Change, Springer, vol. 163(1), pages 599-618, November.
    5. Morris, Corey J. & Green, John M., 2014. "MPA regulations should incorporate adaptive management—The case of Gilbert Bay Labrador Atlantic cod (Gadus morhua)," Marine Policy, Elsevier, vol. 49(C), pages 20-28.
    6. Emilie Reuchlin-Hugenholtz & Nancy L Shackell & Jeffrey A Hutchings, 2015. "The Potential for Spatial Distribution Indices to Signal Thresholds in Marine Fish Biomass," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-22, March.
    7. Scott Forbes, 2012. "Parental preference for investment risk incites family strife," Journal of Bioeconomics, Springer, vol. 14(2), pages 115-128, July.
    8. Vilém Pechanec & Lenka Štěrbová & Jan Purkyt & Marcela Prokopová & Renata Včeláková & Ondřej Cudlín & Pavel Vyvlečka & Emil Cienciala & Pavel Cudlín, 2022. "Selected Aspects of Carbon Stock Assessment in Aboveground Biomass," Land, MDPI, vol. 11(1), pages 1-16, January.
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    11. Tian, Meng & Wang, Yiwei & Wang, Yiran, 2023. "High-speed rail network and urban agglomeration economies: Research from the perspective of urban network externalities," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    12. Vinent, Orencio Duran & Johnston, Robert J. & Kirwan, Matthew L. & Leroux, Anke D. & Martin, Vance L., 2019. "Coastal dynamics and adaptation to uncertain sea level rise: Optimal portfolios for salt marsh migration," Journal of Environmental Economics and Management, Elsevier, vol. 98(C).
    13. Fromentin, Jean-Marc & Bonhommeau, Sylvain & Arrizabalaga, Haritz & Kell, Laurence T., 2014. "The spectre of uncertainty in management of exploited fish stocks: The illustrative case of Atlantic bluefin tuna," Marine Policy, Elsevier, vol. 47(C), pages 8-14.
    14. Andreas Nicolaidis Lindqvist & Sarah Broberg & Linda Tufvesson & Sammar Khalil & Thomas Prade, 2019. "Bio-Based Production Systems: Why Environmental Assessment Needs to Include Supporting Systems," Sustainability, MDPI, vol. 11(17), pages 1-26, August.
    15. Burbano-Figueroa, Oscar & Sierra-Monroy, Alexandra & David-Hinestroza, Adriana & Whitney, Cory & Borgemeister, Christian & Luedeling, Eike, 2022. "Farm-planning under risk: An application of decision analysis and portfolio theory for the assessment of crop diversification strategies in horticultural systems," Agricultural Systems, Elsevier, vol. 199(C).
    16. Giovanni Polverino & Upama Aich & Jack A Brand & Michael G Bertram & Jake M Martin & Hung Tan & Vrishin R Soman & Rachel T Mason & Bob B M Wong, 2023. "Sex-specific effects of psychoactive pollution on behavioral individuality and plasticity in fish," Behavioral Ecology, International Society for Behavioral Ecology, vol. 34(6), pages 969-978.
    17. Thanassekos, Stéphane & Scheld, Andrew M., 2020. "Simulating the effects of environmental and market variability on fishing industry structure," Ecological Economics, Elsevier, vol. 174(C).
    18. Imikendu Imbwae & Shankar Aswani & Warwick Sauer, 2023. "Socio-Economic and Environmental Challenges of Small-Scale Fisheries: Prognosis for Sustainable Fisheries Management in Lake Kariba, Zambia," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    19. Retallack, Matthew, 2021. "The intersection of economic demand for ecosystem services and public policy: A watershed case study exploring implications for social-ecological resilience," Ecosystem Services, Elsevier, vol. 50(C).
    20. Mekonnen H Daba & Sintayehu W Dejene, 2018. "The Role of Biodiversity and Ecosystem Services in Carbon Sequestration and its Implication for Climate Change Mitigation," International Journal of Environmental Sciences & Natural Resources, Juniper Publishers Inc., vol. 11(2), pages 53-62, May.
    21. Sethi, Suresh Andrew & Reimer, Matthew & Knapp, Gunnar, 2014. "Alaskan fishing community revenues and the stabilizing role of fishing portfolios," Marine Policy, Elsevier, vol. 48(C), pages 134-141.
    22. Smith, A.C. & Harrison, P.A. & Pérez Soba, M. & Archaux, F. & Blicharska, M. & Egoh, B.N. & Erős, T. & Fabrega Domenech, N. & György, à .I. & Haines-Young, R. & Li, S. & Lommelen, E. & Meiresonne, , 2017. "How natural capital delivers ecosystem services: A typology derived from a systematic review," Ecosystem Services, Elsevier, vol. 26(PA), pages 111-126.
    23. Williams, Meryl J., 2010. "Food from the Water: How the Fish Production Revolution Affects Aquatic Biodiversity and Food Security," 2010: Biodiversity and World Food Security: Nourishing the Planet and Its People, 30 August-1 September 2010 125247, Crawford Fund.

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