Marine ecologists warn that humans are "fishing down marine food webs." To explore the economic implications of this phenomenon, this paper applies portfolio theory to aggregate fisheries data. It poses two definitions of a sustainable mean-variance catch frontier. It computes a mean-variance frontier for catch using UNFAO historical fisheries data. Finally, the paper discusses the historical trend in inefficiency.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number
22191.
Length: Date of creation: 2003 Date of revision: Handle: RePEc:ags:aaea03:22191
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