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Pulse vs. Optimal Stationary Fishing: The Northern Stock of Hake

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  • Da Rocha, José María
  • Taboada Antelo, Luis
  • Gutiérrez Huerta, María José

Abstract

Pulse fishing may be a global optimal strategy in multicohort fisheries. In this article we compare the pulse fishing solutions obtained by using global numerical methods with the analytical stationary optimal solution. This allows us to quantify the potential benefits associated with the use of periodic fishing in the Northern Stock of hake. Results show that: first, management plans based exclusively on traditional reference targets as Fmsy may drive fishery economic results far from the optimal; second, global optimal solutions would imply, in a cyclical manner, the closure of the fishery for some periods and third, second best stationary policies with stable employment only reduce optimal present value of discounted profit in a 2%.

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Paper provided by University of the Basque Country - Department of Foundations of Economic Analysis II in its series DFAEII Working Papers with number 2011-04.

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Date of creation: Nov 2011
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Handle: RePEc:ehu:dfaeii:201104

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Postal: Dpto. de Fundamentos del Análisis Económico II, = Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
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Keywords: optimal fisheries; management optimization in age-structured models; pulse fishing;

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  1. Spulber, Daniel F., 1983. "Pulse-fishing and stochastic equilibrium in the multicohort fishery," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 6(1), pages 309-332, September.
  2. Tom Kompas & Cathy M. Dichmont & André E. Punt & A. Deng & Tuong Nhu Che & Janet Bishop & Peter Gooday & Yemin Ye & S. Zhou, 2010. "Maximizing profits and conserving stocks in the Australian Northern Prawn Fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 281-299, 07.
  3. Kulmala, Soile & Laukkanen, Marita & Michielsens, Catherine, 2008. "Reconciling economic and biological modeling of migratory fish stocks: Optimal management of the Atlantic salmon fishery in the Baltic Sea," Ecological Economics, Elsevier, Elsevier, vol. 64(4), pages 716-728, February.
  4. Da Rocha, José María & Gutiérrez Huerta, María José, 2011. "Lessons from the northern hake long-term management plan: Could the economic assessment have accepted it?," DFAEII Working Papers 2011-01, University of the Basque Country - Department of Foundations of Economic Analysis II.
  5. Grafton, R. Quentin & Kompas, Tom & Chu, Long & Che, Nhu, 2010. "Maximum economic yield," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 54(3), September.
  6. 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, European Association of Environmental and Resource Economists, vol. 29(4), pages 435-457, December.
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  1. Socio-economics of Fisheries and Aquaculture

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