Fisheries Instrument Choice under Uncertainty
AbstractThis 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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Bibliographic InfoPaper provided by Australian National University, Economics and Environment Network in its series Economics and Environment Network Working Papers with number 0607.
Length: 30 pages
Date of creation: Aug 2006
Date of revision:
Contact details of provider:
Web page: http://een.anu.edu.au/
fisheries management; uncertainty;
Other versions of this item:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-19 (All new papers)
- NEP-ENV-2007-05-19 (Environmental Economics)
- NEP-RES-2007-05-19 (Resource Economics)
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.:
- 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.
- Campbell, Harry F. & Hand, Anthony J. & Smith, Anthony D.M., 1993. "A Bioeconomic Model for Management of Orange Roughy Stocks," Marine Resource Economics, Marine Resources Foundation, vol. 8(2).
- 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.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2004. "Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery," Applied Economics, Taylor and Francis Journals, vol. 36(15), pages 1631-1641.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical Efficiency Effects of Input Controls: Evidence from Australia's Banana Prawn Fishery," Economics and Environment Network Working Papers 0304, Australian National University, Economics and Environment Network.
- 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.
- 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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