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Reconciling Economic and Biological Modeling of Migratory Fish Stocks:Optimal Management of the Atlantic Salmon Fishery in the Baltic Sea

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Author Info
Kulmala, Soile
Laukkanen, Marita
Michielsens, Catherine

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Abstract

The paper puts forward a model of the Atlantic salmon fishery in the Baltic Sea that integrates the salient biological and economic characteristics of migratory fish stocks. Designed to be compatible with the framework used for actual stock assessments, the model accounts for agestructured population dynamics, the seasonal harvest and competing harvesting by commercial and recreational fishermen. It is calibrated using data and parameter estimates for the Simojoki River stock. The socially optimal policy for maximizing discounted net benefits from the fishery within an uncertain environment is determined using a dynamic programming approach and numerical solution method. Our results indicate that substantial economic benefits could be realized under optimal management without compromising stock sustainability.

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Publisher Info
Paper provided by MTT Agrifood Research Finland in its series Discussion Papers with number 11857.

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Date of creation: 2006
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Handle: RePEc:ags:mttfdp:11857

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Keywords: Resource /Energy Economics and Policy;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Trond Bjørndal & Daniel Gordon & Veijo Kaitala & Marko Lindroos, 2004. "International Management Strategies for a Straddling Fish Stock: A Bio-Economic Simulation Model of the Norwegian Spring-Spawning Herring Fishery," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(4), pages 435-457, December. [Downloadable!] (restricted)
  2. Clark, Colin W. & Kirkwood, Geoffrey P., 1986. "On uncertain renewable resource stocks: Optimal harvest policies and the value of stock surveys," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 235-244, September. [Downloadable!] (restricted)
  3. Marita Laukkanen, 2001. "A Bioeconomic Analysis of the Northern Baltic Salmon Fishery: Coexistence versus Exclusion of Competing Sequential Fisheries," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 18(3), pages 293-315, March. [Downloadable!] (restricted)
  4. Reed, William J., 1979. "Optimal escapement levels in stochastic and deterministic harvesting models," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 350-363, December. [Downloadable!] (restricted)
  5. Laukkanen, Marita, 2003. "Cooperative and non-cooperative harvesting in a stochastic sequential fishery," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 454-473, March. [Downloadable!] (restricted)
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  6. Sethi, Gautam & Costello, Christopher & Fisher, Anthony & Hanemann, Michael & Karp, Larry, 2005. "Fishery management under multiple uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 300-318, September. [Downloadable!] (restricted)
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  1. José-María Da Rocha & María-José Gutiérrez, 2009. "Reference Points and Optimal Management in Stochastic Age-Structured Fisheries Models," DFAEII Working Papers 200902, University of the Basque Country - Department of Foundations of Economic Analysis II. [Downloadable!]
  2. José-María Da Rocha & María-José Gutiérrez, 2009. "Why Economists Reject Long-Term Fisheries Management Plans?," DFAEII Working Papers 200903, University of the Basque Country - Department of Foundations of Economic Analysis II. [Downloadable!]
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