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Towards the Optimal Management of the Northeast Arctic Cod Fishery

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Author Info

  • Andries Richter

    (Wageningen University)

  • Paulo A.L.D. Nunes

    (Marine Economics Research Programme, The Mediterranean Science Commission – CIESM, Principauté de Monaco, and Department of Agriculture and Natural Resources Economics – TESAF, University of Padova)

Abstract

The objectives pursued by governments managing fisheries may include maximizing profits, minimizing the impact on the marine ecosystem, or securing employment, which all require adjusting the composition of the fishing fleet. We develop a management plan that can be adapted to those objectives and allows the regulator to compare the long-run profits between the various management options. We apply the model to the case of Northeast Arctic cod, and estimate the cost and harvesting functions of various vessel types, the demand function, and a biological model to provide key insights regarding the optimal management of this valuable fish species.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2011.40.

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Date of creation: May 2011
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Handle: RePEc:fem:femwpa:2011.40

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Related research

Keywords: Built Coastal Environment; Natural Coastal Environment; Ecosystem Service Valuation; Geographic Information Systems; Mapping Ecosystem Values; Marine Biodiversity; Scaling up; Spatial Analysis; Spatial Economic Valuation; Value Transfer;

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Cited by:
  1. Stoeven, Max T. & Quaas, Martin F., 2012. "Privatizing renewable resources: Who gains, who loses?," Economics Working Papers 2012-02, Christian-Albrechts-University of Kiel, Department of Economics.

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  1. Socio-economics of Fisheries and Aquaculture

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