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Fisheries Instrument Choice under Uncertainty

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Author Info

  • Tom Kompas

    ()
    (Australian National University, Asia Pacific School of Economics and Government)

  • Tuong Nhu Che

    (Australian Bureau of Agricultural and Resource Economics)

  • R. Quentin Grafton

    ()
    (Australian National University, Asia Pacific School of Economics and Government)

Abstract

This paper uses data from an actual fishery to construct a tractable and dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of instrument choice between a total harvests control and a total effort control under uncertainty, an original method to evaluate the tradeoffs between profits and other criteria in a dynamic context, and provide guidance as to the relative merits of catch and effort controls in fisheries management.

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File URL: http://een.anu.edu.au/download_files/een0607.pdf
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Bibliographic Info

Paper provided by Australian National University, Economics and Environment Network in its series Economics and Environment Network Working Papers with number 0607.

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Length: 30 pages
Date of creation: Aug 2006
Date of revision:
Handle: RePEc:anu:eenwps:0607

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Web page: http://een.anu.edu.au/

Related research

Keywords: fisheries management; uncertainty;

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References

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  1. Danielsson, Asgeir, 2002. "Efficiency of Catch and Effort Quotas in the Presence of Risk," Journal of Environmental Economics and Management, Elsevier, vol. 43(1), pages 20-33, January.
  2. Hannesson, Rognvaldur & Steinshamn, Stein Ivar, 1991. "How to set catch quotas: Constant effort or constant catch?," Journal of Environmental Economics and Management, Elsevier, vol. 20(1), pages 71-91, January.
  3. Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery," International and Development Economics Working Papers idec03-3, International and Development Economics.
  4. Quiggin, John, 1992. "How to set catch quotas: A note on the superiority of constant effort rules," Journal of Environmental Economics and Management, Elsevier, vol. 22(2), pages 199-203, March.
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Cited by:
  1. José Da Rocha & María Gutiérrez, 2012. "Endogenous Fishery Management in a Stochastic Model: Why Do Fishery Agencies Use TACs Along with Fishing Periods?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 53(1), pages 25-59, September.

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  1. Socio-economics of Fisheries and Aquaculture

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