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Optimal Feedback Controls: Comparative Evaluation of the Cod Fisheries in Denmark, Iceland, and Norway

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  • Ragnar Arnason
  • Leif K. Sandal
  • Stein Ivar Steinshamn
  • Niels Vestergaard

Abstract

The economic efficiencies of the Danish, Icelandic, and Norwegian cod fisheries are examined. For this purpose, nonlinear aggregate models of these fisheries are constructed. Comparing the calculated optimal harvest and biomass quantities with the actual fisheries provides a measure of the degree of efficiency in these fisheries. The comparisons confirm that the cod harvesting policies of these countries have been hugely inefficient in the past. It appears that inefficiency has been increasing over the last three to four decades, even after TAC regulations replaced open access, indicating that the management policies adopted by all three countries have failed to cure overfishing. Copyright 2004, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00597.x
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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 86 (2004)
Issue (Month): 2 ()
Pages: 531-542

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Handle: RePEc:oup:ajagec:v:86:y:2004:i:2:p:531-542

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Cited by:
  1. Elofsson, Katarina & Bengtsson, Goran & Gren, Ing-Marie, 2011. "Optimal Management of Invasive Species with Different Reproduction and Survival Strategies," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114343, European Association of Agricultural Economists.
  2. Florian Diekert & Dag Hjermann & Eric Nævdal & Nils Stenseth, 2010. "Spare the Young Fish: Optimal Harvesting Policies for North-East Arctic Cod," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 47(4), pages 455-475, December.
  3. Sandal, Leif K. & Berge, Gerhard, 2004. "A method for numerical and analytical solutions to a class of nonlinear optimal control problems," Discussion Papers 2004/2, Department of Business and Management Science, Norwegian School of Economics.
  4. Ussif, Al-Amin M. & Sumaila, Ussif R., 2005. "Modeling the dynamics of regulated resource systems: a fishery example," Ecological Economics, Elsevier, vol. 52(4), pages 469-479, March.
  5. Poudel, Diwakar & Sandal, Leif K. & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2012. "Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?," Discussion Papers 2012/1, Department of Business and Management Science, Norwegian School of Economics.
  6. Stoeven, Max T. & Quaas, Martin F., 2012. "Privatizing renewable resources: Who gains, who loses?," Economics Working Papers 2012-02, Christian-Albrechts-University of Kiel, Department of Economics.

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